One-time high-flyer Rubico has reportedly closed down its operations and applied for liquidation.
While CEO Willie Esterhuyzen could not be reached, staff member Colleen Wade confirms that the company has closed its doors.
About 60 people were still employed by the company at the time it closed. Wade, who is now working for the building`s caretaker, is uncertain about whether they received their full salaries for the past month.
Wade, who describes the situation as "very sad", says the company is still waiting to hear the outcome of its application. It is understood that the application was made towards the end of last month.
ITWeb reported last month that shareholders were investigating possible rescue plans for the company, although there was the possibility of liquidation if other alternatives proved unsatisfactory.
Earlier this year Rubico, a business software solutions company, wound up its services company, telling creditors they would have to sort out their claims with the liquidator.
Founded in 1994, Rubico was until recently considered one of SA`s high-flying IT companies.
Shareholder Brait admitted last month that Rubico had fallen on hard times. Among other things, a large contract with a client in Germany fell through.
Brait director Bruce MacRobert confirmed a short while ago that it is his understanding that the liquidation process is now under way.
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