PricewaterhouseCoopers has been appointed administrator to the Picsel Group and Picsel Technologies due to cashflow problems which have now put 70 jobs at risk. Graham Frost, joint administrator, said: 'Unfortunately, in this economic climate, it has proved harder to secure sequential contracts and as a result the group's income has stalled.' The company will be under review by the administrators as to how it can create a new cost and funding structure. Frost added: 'We believe this presents an opportunity for an industry player to acquire a business that is strategically important both in terms of technological expertise and creativity.' Picsel, which won a Queens's award for Enterprise, is based in Scotland with offices throughout Japan, China, Korea, Malaysia and the US. The company's software can be found on over 250m devices worldwide with leading customer brands including Motorola, Nokia, Palm Samsung, Sony Ericsson and Sharp. Frost said: 'With the support of key customers, we hope to trade the business for a period of time while a buyer is sought'.