UK's dead monster iPad gumble-maker COMES BACK TO LIFE
Ditches workforce, relocates in Far East
It's been quite a post-Easter week for the Brit firm behind iPhone and iPad accessories maker GEAR4: it went into administration, axed most of its UK workforce, and has risen again in Hong Kong.
Disruptive Ltd, which makes wireless speakers, docks and a range of Angry Birds accessories stocked at all major UK consumer electronics retailers, was placed in the hands of insolvency specialists FRP Advisory on 16 April.
Graham Holton, FRP insolvency case administrator, said Disruptive's management team, led by founder and CEO Tom Dudderidge, then acquired the share capital of trading subsidiary Disruptive Hong Kong.
He confirmed that after FRP's appointment as administrator it had chopped 40 workers at Disruptive's High Wycombe-based offices, leaving roughly ten people on board.
"There are further assets to realise on the case," he said, but refused to comment on additional questions, sending our request to his media team.
Dudderidge told The Channel that Disruptive Hong Kong next bought the rights to all designs, brands and intellectual property of the group after an "extensive [sales] process" and is relocating its corporate HQ to Hong Kong.
"The market has been challenging for everyone, especially in light of the high profile failures of several retailers," said Dudderidge.
Dudderidge said the economic climate forced it to review Disruptive's operation from the perspective of "product development, business model and location".
The CEO said Disruptive Hong Kong has today appointed Kondor as its first and only distributor in the UK to ensure "continuity of supply" and that all customers' warranties will be honoured.
The business will retain a small UK presence, comprised of sales and marketing folk, a San Francisco office led by chief designer Peter Riering-Czekalla and the new Far East HQ.
In the year to 31 December 2011, Disruptive Ltd made a profit of £744,555 on sales of £20.2m, compared to a loss of £634,388 on a turnover of £23.1m in the previous twelve month period. ®