Record Yield
For directors and insolvency practitioners · updated 30 Oct 2026

Closing a company? Its records may still be worth something

AI developers now buy records from companies that are winding down or have closed, because those records show how real work got done. The catch is timing: once systems are switched off, or the company is dissolved, the opportunity is gone.

Why closing companies' records sell

MIT Technology Review reported in October 2026 that AI labs are buying data from dead start-ups to train their models. The best-known case is Spirit Airlines: in its bankruptcy, Google agreed to buy the airline's records, including 100 million emails and 500 million Teams messages, for $10 million, as reported. Most UK companies are far smaller, but several buyers now run programmes for closing companies.

Buyers that accept closing or closed companies

  • Turing (Project Lazarus): for operating and winding-down companies, with a single payment of up to $1m (advertised).
  • AfterQuery: operating, winding-down and closed companies are all welcome.
  • Labelbox Prism: says distressed and wound-down companies are among its most active sellers, and offers single-payment wind-down packages.
  • micro1: its referral page lists a separate Defunct Data Partnerships programme.
  • Compare them in our buyer comparison.

Before you shut anything down

  • Don't cancel email or workspace subscriptions yet.
  • Don't wipe laptops or servers.
  • Change admin passwords and record who has access.
  • Note where the ticketing, CRM and code systems are hosted.

Who can authorise a sale

  • A solvent company that's closing: the directors, with the shareholders' approval where needed (or, in a members' voluntary liquidation, the liquidator).
  • A company in liquidation or administration: the office-holder (the insolvency practitioner) controls the company's assets, including its records. See our guide for insolvency practitioners.
  • A company that's insolvent or close to it: take advice before selling any asset. If the company later enters liquidation or administration, a sale for significantly less than it's worth can be challenged (Insolvency Act 1986, section 238), and after a winding-up petition a sale may be void (section 127).
  • A dissolved company: its property passes to the Crown (Companies Act 2006, section 1012), so act before dissolution.

Protecting former staff and customers

Spirit's flight attendants' union objected to that sale on privacy grounds. HR and payroll files, health information and privileged material should be excluded, and everything else de-identified and tested before anything leaves.

Frequently asked questions

Can a dissolved company sell its data?

Not itself. When a company is dissolved, its property passes to the Crown (Companies Act 2006, section 1012), unless the company is later restored to the register. Any licence needs to be agreed before dissolution.

We're in liquidation. Who decides?

The liquidator. Once an insolvency practitioner is appointed, they control the company's assets, including its records, and decide whether to realise them for creditors.

Is it worth it for a small company?

It depends on the records more than the size. Several programmes accept closed or winding-down companies, and a long, well-preserved history across several systems is worth more than a short one.

How quickly do we need to act?

Before systems are switched off. Subscriptions lapse and devices are wiped within weeks of closure, and records that no longer exist can't be licensed.

Related

Guide for insolvency practitioners →Insolvency estates →UK Data Estates Bulletin →Who buys company data →

Sources

  1. MIT Technology Review, AI labs are buying data from dead startups (13 Oct 2026)
  2. Turing, Project Lazarus
  3. AfterQuery, Data partnerships
  4. Labelbox Prism, FAQs
  5. micro1, Refer a company
  6. Insolvency Act 1986, section 238 (transactions at an undervalue)
  7. Insolvency Act 1986, section 127 (avoidance of property dispositions)
  8. Companies Act 2006, section 1012 (property of dissolved company)

Figures are each buyer's own published wording, checked on 30 October 2026. Advertised ranges are not offers. Record Yield isn't affiliated with or endorsed by any of the companies named. This page is general information, not legal advice.