Dan Technology goes titsup
BDO moves in
Administrators from BDO Stoy Hayward took control of Dan Technology today, more than a week after news of the PC system builder's financial woes leaked into the market.
Dan is understood to have looked and failed to find a buyer. But a week is a very short time to do this, especially for a system builder.
The collapse of Tiny Computers in January and the retail store Tempo last September shows that post-sales warranty obligations are a major liability for PC system builders/ retailers. Due diligence is the order of the day to assess if such liabilities are unfunded, or under-funded. And that takes time.
BDO hopes to find a buyer for DAN as a going concern. And we think there's a good chance that it will succeed, even if it sells only the assets. ®