Published: April 30, 2026 at 7:44 am
A Newcastle-based robotics firm is set for a crucial insolvency hearing this morning.
Wootzano, once considered one of the brightest lights in the North East tech scene, is facing shutdown after a court order initiated by Innovate UK Loans froze its bank accounts for months.
Founder Dr Atif Syed labelled the scheme – ostensibly a supporter of innovative UK companies – an “insolvency accelerator” last year on social media.
With Wootzano subject to insolvency proceedings initiated by Innovate UK Loans, a source told BusinessCloud that a hearing is scheduled at the Court of Session in Edinburgh – Scotland’s supreme civil court – today at 10am.
The source added that its bank accounts remain frozen, leaving it unable to fund a legal appeal.