Digital ID firm goes into liquidation

SQR Limited combined biometrics and AI with security technology

A local anti-fraud digital ID company has entered creditors' voluntary liquidation after an extraordinary general meeting of its shareholders was held earlier this week (Monday 10 August).

SQR Limited was certified back in 2023 but has now ceased operation, with its board of directors and executive leadership terminating services as of 31 July.

All customer data has been deleted.

In a statement issued to Manx Radio, the Department for Enterprise says, 'the closure of any Isle of Man business, and any resulting loss of roles, is never welcome'.

But it adds that 'given the strong demand for skills across the economy, it is hoped that those affected will be able to secure alternative employment within the Island'.

In a post online, the company added: "Building a safer, more inclusive digital world has been a privilege, and we extend our sincerest thanks to our customers, partners, suppliers, end users, and team members for their support throughout our journey."

The Department's statement in full: "The Department is aware that SQR has entered creditors' voluntary liquidation.

"The Department understands that this process will affect those employed by the organisation, as well as customers and suppliers. 

"The closure of any Isle of Man business, and any resulting loss of roles, is never welcome. 

"However, given the strong demand for skills across the economy, it is hoped that those affected will be able to secure alternative employment within the Island.

"Through Digital Isle of Man, the Department will continue to be available to signpost those affected to appropriate support and guidance.

"Gordon Wilson of FRP Advisory is the appointed liquidator and all enquiries regarding the company should be directed to him."