Feeds

Elonex UK goes titsup

Deloitte and Touche step in...

Choosing a cloud hosting partner with confidence

Breaking news Elonex Plc (UK) has gone into administration after weeks of speculation that the PC builder was having serious credit problems.

The company is thought to owe almost £20m to creditors in the UK, Europe and US.

The rumour-mill has been working overtime with stories of Northwest London-based Elonex's imminent demise blamed variously on the state of the market, cut-throat competition from Dell, the end of HCI and Elonex's attempt to sell "digital home" kit - widescreen TVs and personal video recorders. A winding-up order had been asked for by distributor Computer2000 and was due to be heard in early July.

The administrators arrived at the company's offices late on Monday afternoon.

One channel source told The Reg: "They owe £1.5m to UK creditors, almost a million euros to European suppliers and over £11m to US creditors."

Another said: "It's a great shame for everyone involved but it's a tough time out there - the market has changed."

Deloitte and Touche will be working out what is left in the kitty and what action to take next.

It is believed the company went into administration voluntarily and is likely to try and find a deal to satisfy creditors - a voluntary agreement would give creditors a percentage of their money back.

According to Elonex's annual report the company's ultimate parent is Elonex Holdings Limited which is incorporated in the British Virgin Islands.

The company was founded in 1986 and is a government approved supplier. It supplied defence clients, several health authorities as well as being a big supplier of Home Computing Initiative - the tax break for home PCs which Brown abolished in the Budget. They even kitted out the Association of Cricket Umpires and Scorers with laptops.

We'll have more details on this once we've talked to the administrators.®

Intelligent flash storage arrays

More from The Register

next story
All aboard the Poo Bus! Ding ding, route Number Two departing
Only another three days of pooing and I can have a ride!
Ford's B-Max: Fiesta-based runaround that goes THUNK
... when you close the slidey doors, that is ...
Official: European members prefer to fondle Apple iPads
Only 7 of 50 parliamentarians plump for Samsung Galaxy S
Fujitsu CTO: We'll be 3D-printing tech execs in 15 years
Fleshy techie disses network neutrality, helmet-less motorcyclists
Space Commanders rebel as Elite:Dangerous kills offline mode
Frontier cops an epic kicking in its own forums ahead of December revival
Nexus 7 fandroids tell of salty taste after sucking on Google's Lollipop
Web giant looking into why version 5.0 of Android is crippling older slabs
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
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.
The Heartbleed Bug: how to protect your business with Symantec
What happens when the next Heartbleed (or worse) comes along, and what can you do to weather another chapter in an all-too-familiar string of debilitating attacks?
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.