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Domino effect spills out across the channel

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The fall-out from the collapse of CHS Electronics into the hands of the administrative receivers has extended to some of the group's European divisions. German-based CHS Frank & Walter, CHS Germany and CHS Austria have all voluntarily filed for court protection from creditors, according to a statement issued on Reuters last night. The filing buys the European companies 30 days' protection from their creditors, during which time an insolvency administrator will decide what action needs to be taken. It's a far cry from the optimism that surrounded CHS's $37 million acquisition of Frank & Walters back in January 1997. The deal made CHS the biggest name in German distribution, knocking C2000 off the number one spot. Back in the UK, sources close to the scramble to salvage as much of CHS as possible have told The Register they expected to see an end to uncertainty regarding the group's future by the end of this week. ®

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