Breastlight firm in liquidation
A Scottish firm which received more than £1m of public money has gone into liquidation after running out of cash.
The future of PWB Health, the creators of a Breastlight device that allows women to check their breasts for lumps, is in doubt.
The company received £1,147,371 from the Scottish Enterprise Co-Investment Fund in 2008.
However, a provisional liquidator has been appointed to put the company and its assets up for sale.
Matt Henderson, partner of Johnston Carmichael, said: "Sales of this product have been good but the company has been under immense pressure due to worldwide demand.
"The sheer volume of orders coupled with a relatively low margin has crippled working capital and has left the business cash-strapped."
Mr Henderson said the company had found a new low-cost alternative for its technology and could begin trading under new owners.
He added: "We are appealing to buyers to come forward for this opportunity to develop the Breastlight business and allow it to reach its full potential as a global success."
A spokesperson for Scottish Enterprise said: "We have robust processes in place to ensure that SE's position is monitored and that we are treated fairly and in line with other shareholders in order for us to obtain any return that we are due following the administration/insolvency process."
PWB Health currently employs three people at its premises in Dumbarton.