Bet Brokers in administration

Looks like Bet Brokers business model has failed. I've always been intrigued by this business and couldn't quite understood where it fitted into the modern betting landscape. There was discussion I followed recently that hinted that they struggled with the collapse of credit markets but I am not sure where this entered their business? This was their angle on their place in the market: -

"As an independent broker we place bets on behalf of our clients quickly and efficiently securing the best odds for the amount requested. One account with Betbrokers means one call to over 200 bookmakers and exchanges."

I went to visit their offices at the very expensive Canary Wharf but still couldn't fit in my mind exactly where they would drive enough revenue to support an operation like the one they had. I guess there is demand for this sort of thing but given the nature of modern markets and scale of their set up, it didn't seem to add up. So it's not a great surprise they have gone.