In order to protect the charity’s assets, they were advised to stop operations and appoint administrators.
According to its last publicly available accounts, Soft had an income of £20.7 million in 2017 and assets of £2.8 million.
RG Insolvency is currently investigating its records, transactions and the events that have led to the current situation.
Administrators Michael Goldstein and Avner Radomsky said they “continue to sympathise with the many affected parties within and beyond the community and are actively working to resolve the position”.
They reminded donors that voucher books and pre-paid vouchers would no longer be honoured.
Recipients of Soft vouchers will no longer will be able to cash them.
