Administrators are on standby to handle the collapse of the UK arm of Builder.ai, a Microsoft-backed start-up which has filed for bankruptcy protection in the US.
Sky News has learnt that Alvarez & Marsal (A&M) has been lined up to oversee the insolvency of Builder.ai’s UK entities.
News of the impending appointment comes days after Builder.ai, which was founded by Sachin Dev Duggal, collapsed in the US.
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Mr Duggal stepped down earlier this year.
Builder.ai had raised hundreds of millions of dollars from investors, including a Qatari sovereign wealth fund, helping it to achieve a ‘unicorn’ valuation of more than $1bn.
The company said it used artificial intelligence to…
