Feeds

Sonex calls in administrators

Parent of 15 Sony Centres runs out of cash

5 things you didn’t know about cloud backup

Sonex Communications has called in the administrators to seek a way forward for its 15 ailing Sony Centres.

The firm called in BDO LLP on 13 September after running into financial difficulties, but is continuing to trade with, as yet, no staff redundancies, according to a spokeswoman at Sony.

"Sony Europe will be examining options for the business and the stores moving forward, the details of which will remain confidential until a conclusion is reached", said Sony in a statement sent to The Reg.

"In the meantime all the stores will continue to trade as normal and all product warranties and customer orders related to Sonex Communications-operated stores will be honoured," it added.

Signs that things had gone pear-shaped in Sonex could be seen in its results for the year ended 31 March 2010, when sales slumped by 20 per cent to £24m and losses increased to £2.7m compared to £300,000 the year before.

This is despite the firm shedding £1m in overhead expenses by "efficiency improvements" and cutting stock levels to a more "sustainable level".

Alongside the numbers, Sonex bemoaned the perilous state of consumer spending on the high street, banks' reluctance to extend credit terms and increased competition from online shops and major retailers.

Sonex had operated 13 Debenhams concessions but decided to close these in the last financial year, which ended last March, along with three Sony stores, and had further proposals to slash overheads but it seems these did not work.

BDO did not respond to call for comment. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
Facebook, Google and Instagram 'worse than drugs' says Miley Cyrus
Italian boffins agree with popette's theory that haters are the real wrecking balls
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
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.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.