Feeds

Torex Retail loses two more directors

Still sorting last year's accounts

New hybrid storage solutions

Torex Retail said goodbye to two more directors late yesterday.

The Oxfordshire-based software company came unstuck when a trading update, which said everything was fine, was quickly followed by a profits warning last month. Shares in the firm are suspended while KPMG tries to make sense of the company's accounts.

Torex chairman Christopher Moore stepped down after the company issued its surprise profit warning at the end of January. Neil Mitchell stepped down from executive duties at the same time - both remain on the board.

In a statement to the London Stock Exchange, the company said:

Torex Retail plc, a leading global retail systems provider, announces that Mr Geoffrey Forster and Mr David Hallett have today resigned as non-executive Directors of the Company with immediate effect.

The Company will make an announcement about the appointment of replacement Non-executive directors in due course.

Torex has made an agreement with the banks for short-term funding of £15m and has appointed a new chairman, Steve Marshall.

It is working to sort out its books, a process that is likely to take some time.®

New hybrid storage solutions

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Apple Pay is a tidy payday for Apple with 0.15% cut, sources say
Cupertino slurps 15 cents from every $100 purchase
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Forget silly privacy worries - help biometrics firms make MILLIONS
Beancounter reckons dabs-scanning tech is the next big moneypit
Microsoft's Office Delve wants work to be more like being on Facebook
Office Graph, social features for Office 365 going public
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.
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.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.