In 2015, a company by the name of Wileyfox in the United Kingdom seemingly came out of nowhere with two Android phones powered by Cyanogen OS. Wileyfox followed these up with its Spark lineup and the Swift 2 in 2016, and early 2017 saw the debut of the Swift 2 X.
The company's been mostly quiet since then, but according to a former employee that recently took to Reddit, Wileyfox is currently undergoing an administration.
Administration is a process that businesses sometimes undergo in the United Kingdom, and when this takes place, the company in question hands itself over to either one person or a group that's in charge of finding ways to pay off existing debts to impatient creditors.
The former employee that shared this news was a community manager that's been laid off as a result of the administration, and at this time, it's unclear what'll happen to Wileyfox. It's possible this is just a bump in the road and things will be able to go back to normal, but it could also be the beginning of the end for the OEM.
If you're the current owner of a Wileyfox phone, the administration process is also going to have an impact on you. According to the former employee, software updates are no longer happening and any claims for repairs and warranties are up to the decision of the administrator(s).
It's never fun reporting on stories like this, so here's to hoping that Wileyfox can come out of this administration stronger than ever and get back to making awesome products.
Smartphones are great — don't ruin them with foldable gimmicks
So, is this the UK's version of bankruptcy?
Sounds like the last stage before bankruptcy
No, the UK version of bankruptcy is known as "bankruptcy". Going into administration is basically an attempt to help save the company from dissolution... If the process fails, then they'll likely liquidate, declare bankruptcy and dissolve the company.
You go into administration if you're on the verge of bankruptcy. The administration team take over and will do what they can to save the company and keep as many of the creditors happy as they can, but if its too bad, then the company is declared bankrupt and it will be game over for Wileyfox. Sad.
I don't think they'll come back, mediocre products competing with moto and swathes of Chinese phones with better specs for the same price range.
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