QM4.com wound up with £2m debt

QM4.com, an internet exchange portal set up by former managers at Dell and backed by Mr Dermot Desmond, has been wound up owing…

QM4.com, an internet exchange portal set up by former managers at Dell and backed by Mr Dermot Desmond, has been wound up owing creditors £2 million (€2.54 million). The firm, which planned to match small and medium-sized businesses online with consumers, went into liquidation in August. Mr Jim Hamilton, liquidator with BDO Simpson Xavier, said he had recently sold the company's intellectual property to a British company for less than £30,000.

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