Skybox Security’s Israeli subsidiary has filed for court proceedings in Tel Aviv due to financial difficulties.

The company has left employees unpaid and is facing mounting debts, including unpaid salaries for February estimated at US$2.78 million.

The cybersecurity firm, which previously employed around 100 people in Israel, is awaiting the court’s decision on whether it will undergo liquidation or rehabilitation.

Reports indicated last week that the company had laid off its Israeli workforce and ceased operations due to financial strain.