Invuo Technologies AB files for bankruptcy
The Board of Directors of Invuo Technologies AB (“Invuo” or “Company”) have decided to file an application for bankruptcy on October 8, 2018, as it is evident that the Company has become insolvent. The filing includes the Swedish subsidiary Invuo Services AB. Other group companies are not included in the filing. The immediate reason for the insolvency is the protracted delays in clients’ implementation of the Company’s services. These delays have caused a severe negative impact on the Company’s cashflows. The Company’s current situation is further worsened by the absence of the expected