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Receivers take reins at Pace Modems

Death of one of the dying breed of UK modem makers

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PMC Electronics, the Pace-brand modem manufacturer, has gone into administrative receivership. Based in Shipley, West Yorkshire, the company has ceased trading, and is now under the control of KPMG in Nottingham. Its holding company, PMC Group, has also ceased trading. The two companies went into administrative receivership last Thursday. According to a recorded announcement from PMC this morning: "With immediate effect, we regret that PMC has now ceased to trade. All enquiries regarding technical and support issues should be directed towards your local PC distributor." The receivers are MV McLoughlin and Peter Terry at KPMG. PMC had 45 staff in its warehouse and offices in Shipley. Around 40 of the staff have been made redundant. KPMG was unable to comment on PMC's debts. PMC was one of the few remaining British modem vendors. One source commented that US competition was now too fierce to sustain many UK manufacturers in this sector. ®

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