SECURITY SHOP ADARMA CEASES TRADING, CONFIRMS IT WILL ENTER ADMINISTRATION

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UK cybersecurity firm Adarma has entered administration, the UK equivalent of bankruptcy, after investor Livingbridge withdrew funding three months earlier due to major contract losses. All 173 employees were made redundant with immediate effect on July 14. The company struggled financially despite charging daily rates of £740-£2,380 and serving clients with a combined turnover of £150 billion.