Feeds

Elonex UK goes titsup

Deloitte and Touche step in...

3 Big data security analytics techniques

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.®

SANS - Survey on application security programs

More from The Register

next story
Samsung Galaxy S5 fingerprint scanner hacked in just 4 DAYS
Sammy's newbie cooked slower than iPhone, also costs more to build
Leaked pics show EMBIGGENED iPhone 6 screen
Fat-fingered fanbois rejoice over Chinternet snaps
Oh no, Joe: WinPhone users already griping over 8.1 mega-update
Hang on. Which bit of Developer Preview don't you understand?
Microsoft lobs pre-release Windows Phone 8.1 at devs who dare
App makers can load it before anyone else, but if they do they're stuck with it
Report: Apple seeking to raise iPhone 6 price by a HUNDRED BUCKS
'Well, that 5c experiment didn't go so well – let's try the other direction'
Rounded corners? Pah! Amazon's '3D phone has eye-tracking tech'
Now THAT'S what we call a proper new feature
Feast your PUNY eyes on highest resolution phone display EVER
Too much pixel dust for your strained eyeballs to handle
Hearthstone: Heroes of Warcraft – A jolly little war for lunchtime
Free-to-play WoW turn-based game when you have 20 minutes to kill
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.