The UK branch of mobile ad tech company Mozoo has announced that it has begun voluntary liquidation proceedings and has ceased trading. Mozoos main office in France and its other satellite operations in the US and China are unaffected by the process.

The liquidation will be handled by insolvency specialists Moorfields, and an email to creditors obtained by Mobile Marketing Magazine confirms that the company “is not in a position to make any payments to its unpaid supplliers” in its current state.

Moozo has been active in the UK since 2012, and specialises in helping publishers monetise mobile ad inventory, aggregating demand from various ad networks and exchanges. The firm has just under 100 employees listed currently, but it is not clear how many of those are employed by Mozoo UK.

There had been rumours of a round of redundancies at Mozoo UK recently, with several senior employees known to have taken roles at other companies. This is despite the firm acquiring in-app mediation specialist AdinCube less than six months ago, in a move aimed at strengthening the firms AI capabilities.

The liquidation serves as a reminder that despite strong growth in both mobile and programmatic, the industry remains a highly competitive one, especially outside the duopoly of Google and Facebook, and 2018 is expected to bring another wave of consolidation as smaller firms attempt to compete with ad techs biggest players.