Feeds

Granville Technology goes into administration

Bell tolls for UK's largest PC maker

  • alert
  • submit to reddit

Boost IT visibility and business value

Granville Technology Group Ltd, owner of computer brands Time and Tiny, has gone into administration and most of its 1,600 staff are likely to lose their jobs.

Grant Thornton is handling the wind-up or possible sale of the Burnley-based firm. The news follows weeks of speculation about the company's future.

The beancounters - Andrew Hosking, Martin Ellis and Les Ross - have decided not to keep the company running as a going concern so all staff will be laid off.

Time posted a profit of £2.5m on turnover of £207m in the year ended 30 June 2003, according to the last set of accounts it filed at Companies House. No accounts have been filed since but management accounts show losses of between £1m and £2m a month.

The administrators blamed price deflation and a softening of consumer demand coupled with pressure from suppliers for the company's fate.

The statement also says the administrators hope to keep customer support lines open and promises a future statement to explain how it will do this.

They have also set up a help line for customers and creditors and people who have made recent orders but not received their goods. Call 0870 381 7097 if you fall into one of those categories.

GMB union representative Graham Coxon told The Reg the union had been worried about the company for some time and Time laid off 40 staff last week.

Time's 78 retail outlets - The Computer Shop - were closed yesterday after the bank stopped the company taking card payments. Staff had been hoping to return to work today.®

Related stories

Time shutters stores
Tiny transforms into e-business
WinXP Media Center PCs come to Europe

Build a business case: developing custom apps

More from The Register

next story
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.