Over ￡2m was provided by more than 12,000 backers
The beleaguered Zano mini-drone project, which was Europe's most successful Kickstarter idea, has been shut down by the company behind it.
Torquing Group released a statement to backers of the project, saying it had decided to pursue a "creditors' voluntary liquidation".
The project was known to be in trouble, despite having raised over ￡2m.
Creditors will be contacted by an insolvency practitioner, according to a message sent to them by Torquing.
"Having explored all options known to us, and after seeking professional advice, we have made the difficult decision to pursue a creditors' voluntary liquidation," the message states.
"We are greatly disappointed with the outcome of the Zano project, and we would like to take this opportunity to thank everyone who has supported us during this difficult period, especially our loyal employees, whose commitment has exceeded all expectations."
Thousands of people who invested in the project via Kickstarter will not now receive the device they had paid to support.
Trouble for Torquing
Torquing chief executive Ivan Reedman resigned last week due to "personal health issues and irreconcilable differences", according to a comment he left on a Zano forum.
It followed another hiccup in June, when Torquing missed a deadline to distribute drones to backers waiting to receive the product.
Zano drones were already in production and were designed to be controllable via a smartphone app.
The device would also have been able to follow users as they moved around outdoors, though the function was not working fully when the BBC visited Torquing in August.