The beleaguered Zano mini-drone project, which was Europe’s most successful Kickstarter idea, has been shut down by the company behind it.
Torquing Group released a statement to backers of the project, saying it had decided to pursue a “creditors’ voluntary liquidation”.
The project was known to be in trouble, despite having raised over £2m. Creditors will be contacted by an insolvency practitioner, according to a message sent to them by Torquing.
“Having explored all options known to us, and after seeking professional advice, we have made the difficult decision to pursue a creditors’ voluntary liquidation,” the message states.
“We are greatly disappointed with the outcome of the Zano project, and we would like to take this opportunity to thank everyone who has supported us during this difficult period, especially our loyal employees, whose commitment has exceeded all expectations.”
More than 12,000 people who invested in the project via Kickstarter will not now receive the device they had paid to support.
