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Elf mops up bankrupt stock

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Components distributor Memsolve has finally been laid to rest, with its remaining stock moved to Dorset. The Widnes, Cheshire company was wound up last week at the Royal Courts of Justice, London. Solicitors Coleman Tilley Tarrant Sutton, of Kingston Upon Thames, presented the petition on behalf of distributor Northamber. The warehouse stock has been bought by Elf, the Verwood-based company specialising in end of line, bankrupt and second-user PC equipment. Elf sales director, Nick Knight, preferred not to comment on the price paid for the Memsolve kit, but conceded the company had negotiated "not a bad deal". He said the stock would be transferred to Elf’s warehouse in Dorset. Cheshire-based Memsolve faced the compulsory winding up order after admitting it owed around £4 million earlier this year. Administrators from BDO Stoy Hayward went into the distributor in March.®

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