London-based reseller Mygate went into liquidation on Tuesday, though the company's assets have already been sold, to Guildford-based Apple dealer Cancom.

Mygate has ceased trading, though at the time of writing its Web site remained active. The company was forced to call in the receivers after accumulating debts of over £1 million.

This despite a turnover of around £6 million - not enough, it seems, to keep the company afloat in the current economic climate and downturn in PC sales.

Receiver BDO Stoy Hayward said both factors eroded Mygate's margins to the point where it was no longer possible to maintain the business.

Staff learned of the closure on Tuesday.

Mygate has been trading since 1991, and has become one of the better-known resellers in the UK Mac market, though less so in the more crowded PC arena. ®