Panrix goes titsup -again

Liquidation this time

Panrix, has gone bust again. But this time, there's no escape hatch. The Leeds system builder has gone into Creditors' Voluntary Liquidation, calling on accountancy firm Wilson Pitts to wind up the company's affairs.

Liquidator Philip Deyes who was appointed yesterday said it was too soon to estimate liabilities, creditors' dividends etc. or to supply a reason for Panrix Technologies' collapse.

This information should be ready on June 18, when a creditors' meeting is called, he said.

Panrix went bust for the first time in May 2001. The owner Gulberg Panesar made an offer for the assets of the company and set up again as Panrix Technologies.

Panrix is believed to have been struggling from lack of business, if the fire sale prices on Panrix ads in last month's PC Pro is anything to go by. ®