back to article Newport Networks goes titsup

The VoIP outfit founded by Welsh tech entrepreneur Terry Matthews has gone into voluntary liquidation. Newport Networks Ltd went titsup on 17 August when Begbies Traynor was appointed, according to Companies House documents. The company moved into voluntary liquidation following a meeting with its creditors and directors …

COMMENTS

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  1. Anonymous Coward
    WTF?

    £120m home? Really?

    I grew up in Newport and, much as I love the place, I'm finding it hard to imagine where Terry Matthews has a £120m home there.

    AFAIK the most expensive house in Britain was a mansion in Windlesham, Surrey, that went for £70m.

    Anyone care to throw more light on this one?

  2. The Indomitable Gall

    Switch and router biz...?

    Is that like a 21st century "switch and bait"?

  3. Steve Foster
    Joke

    @Evil Graham

    Small typo in article, it shouldn't read "...in Newport...", but "...called Newport...". :)

  4. James 50

    £120m home

    I think they mean the Celtic Manor, which he owns. That big eyesore that sits on top of the hill like Colditz

  5. Storm Cloud
    Headmaster

    @Graham

    It's because that's the value of Celtic Manor, which is where he stays when he comes over from Canada.

    It was built with his money so effectively it's his house that he lets other people visit .

    Ok, the logic is tenuous but hey.....this the Reg, what were you expecting really?

  6. Intermanaut

    £120m home ...

    Typo, surely? It should be "£120m hotel"...

  7. Anonymous Coward
    Coat

    @Evil Graham

    It's not so much the home itself that was expensive - it's just that he has one of those new 15" OLED displays in there.

  8. Anonymous Coward
    FAIL

    Nice ideas but not very good tech...

    We used the monster Newport 1460 SBC and it caught fire in the server room after a few days... 'nuff said

  9. Richard Jukes

    Fairplay

    Its nice to see a company paying its creditors in full when winding up, usually its a matter of wind up the company, rape and pillage its assets and tell all creditors to suck a lemon.

    Fairplay!

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