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Articles about Insolvencies

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Woohoo! UK IT channel insolvencies plunge to pre-credit-crunch levels

Insolvencies in Britain's IT distribution channel have plummeted to pre-global economy meltdown levels according to credit reference agency Graydon UK. Some 57 companies went under in the fourth quarter of 2012, representing a fall of more than 35 per cent on the same period a year ago when 88 businesses went to the wall. The …
Paul Kunert, 10 Jan 2013
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Reseller insolvencies at 9-year high: 89 firms hit the wall

Reseller fatalities remained close to highs not seen since the dot-com bust as small generalist dealers and independent retailers succumbed to economic pressure. Figures from credit reference agency Graydon UK showed that 89 channel firms went under in Q1, edging up from the 88 firms that hit the skids in Q4 and 17 per cent …
Paul Kunert, 12 Apr 2012
closed_sign shut down under collapsed liquidation

Misery ending? UK reseller insolvencies may have bottomed out

Insolvency rates in the UK channel were back to pre-recession levels in Q2, according to official stats from credit reference agency Graydon UK. The picture is remarkably different to a year ago when reseller failures reached a nine-year high with 99 firms hitting the wall, a pattern that continued until the end of Q1 2012 when …
Paul Kunert, 02 Jul 2012

Brit IT industry comes up for air after recession

There are fewer corporate pile-ups on the channel highway than at any point in more than a decade and a half, official stats from credit reference agency Graydon UK reveal. Some 31 firms bit the dust during the second quarter of calendar '14 - the joint lowest rate since 1998 - way down on the 89 recorded a year ago or the 61 …
Paul Kunert, 09 Jul 2014

UK tech channel in RUDE health as bankruptcies dip in Q1

It's time to crack open the bubbly: corporate fatalities in the UK channel have fallen for the fourth consecutive quarter, official stats from credit rating firm Graydon UK reveal. Some 61 companies bit the dust in the first three months of the year versus 64 for the same period of 2013, indicating that the UK IT industry has …
Paul Kunert, 04 Apr 2014

Dip in Blighty's titsup tech firms... but what about the ZOMBIES?

An eerie calm has descended in the UK technology channel* as company failures stabilise and the recession lifts, but with legions of undead corporate corpses stalking the land, an insolvency storm could now be brewing. That was the prognosis of experts in the credit and insolvency sectors, a week after UK GDP figures from the …
Paul Kunert, 01 Nov 2013
closed_sign shut down under collapsed liquidation

2014: The year of the cloudy biz bankruptcy... or maybe it isn't?

Once again the channel has proved to be a hardy bunch as insolvencies remained pretty much stable in 2013, despite a meltdown in some areas of tech infrastructure spending. Some 293 resellers bit the dust in the previous calendar 12 months, versus 285 in the previous year: a 2.8 per cent rise. 66 hit the wall in Q4, up from 57 …
Paul Kunert, 23 Jan 2014

Mega UK reseller Kelway bags investment banker for matchmaking service

Kelway has appointed global investment banker William Blair to seek a way forward for the business, which in all likelihood appears to involve hauling in a new private equity backer. As The Channel previously noted, Kelway has swelled to a £500m sales biz, which appears to restrict potential trade buyers in UK reseller land to …
Paul Kunert, 27 Jan 2014
closed_sign shut down under collapsed liquidation

'Petrified' insurers slam wallets shut as more resellers go titsup

The small sequential rise in reseller insolvencies in Q3 - in line with seasonality - will do nothing to calm credit insurers' general uneasiness about the IT sector. Data from credit reference agency Graydon UK, shows 75 channel firms bit the dust during the summer quarter, up from 64 in Q2 but dramatically lower than the 93 of …
Paul Kunert, 23 Oct 2012
Crystal ball via http://www.manoftaste.de/

PEAK MOBILE: IT biz spending forecasts SLASHED

We're not even a full week into the second month of 2014 and beancounter IDC has lowered its global IT spending forecasts, amid volatility in emerging markets and on fears that smartphone and slab sales have peaked. An eye watering $2tn was splashed on tech last year, including $1tn on hardware, but IDC has already pegged back …
Paul Kunert, 05 Feb 2014
closed_sign shut down under collapsed liquidation

Channel firms, rejoice: You're not going out of business nearly so often

Channel insolvencies have fallen for the third consecutive quarter, according to official stats from credit reference agency Graydon UK. Sixty-four tech suppliers hit the wall in Q1, down a whopping 28 per cent on the same period a year ago. Broken down by type there were 45 voluntary liquidations, four compulsory liquidations …
Paul Kunert, 08 Apr 2013
channel

Channel body count hits dotcom implosion high

The channel body count in 2011 reached a high not seen since the dotcom bubble burst, stats from credit reference agency Graydon UK reveal. In Q4 88 firms collapsed, up nearly 30 per cent year-on-year, which took the tally for the whole of 2011 to 356, up by almost one third on reseller fatalities in the previous twelve months …
Paul Kunert, 07 Feb 2012

Credit insurer sets up 'task force' in wake of enormo UK IT biz failures

Trade credit insurer Atradius is setting up a specialist task force to analyse UK channel companies that have a high debt-to-assets ratio or have VC backing in the wake of recent high-profile and costly failures. As world + dog knows, High Street giant Comet hit the wall in December owing creditors £257m, costing the UK …
Paul Kunert, 15 Apr 2013
channel

Sumlock Electronics faces liquidation

North East-based family-run reseller Sumlock Electronics is to be liquidated, according to a filing to Companies House. The VMware, NEC and Sophos partner, which was incorporated in 1976, is understood to have encountered terminal cash flow difficulties in recent months that forced it to shut up shop. Business advisor Walsh …
Paul Kunert, 28 Feb 2012
hands waving dollar bills in the air

Insurance giant: IT dealers will survive the downturn

The UK boss at credit insurer Euler Hermes reckons that although channel insolvencies may edge up again next year, B2B resellers are in comparatively rude health. The number of IT dealers hitting the wall returned to levels not seen since the dot-com bust during the first half of 2011 and are forecast to remain high as the …
Paul Kunert, 05 Dec 2011
globalisation

Micro Direct leaves string of channel creditors out of pocket

Manchester-based e-tailer Micro Direct has left a trail of unsecured creditors in its wake, who are owed £880,000. The firm was the subject of a winding up petition by Micro-Peripherals in June over unpaid bills worth £70,000, but at the time distributor and channel sources claimed the online reseller once had a solid payment …
Paul Kunert, 22 Mar 2012
The Register breaking news

Now draft biz guillotine law triggers info privacy watchdog

There are insufficient data protection safeguards built in to proposed reforms to the EU's insolvency law framework, a privacy watchdog has said. In a recently issued opinion into the European Commission's draft Insolvency Regulation, the European Data Protection Supervisor (EDPS) raised concerns about the mandatory publication …
OUT-LAW.COM, 15 Apr 2013
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IT firms drown as rising tide buoys rest of UK plc

The number of British business failures eased back in April, however IT firms bucked the trend with insolvencies up by a third compared to last year. Credit ratings giant Experian said that 1,564 businesses failed in April, compared to 1,808 company collapses in the same month last year. Put another way, this was 0.08 per cent …
Joe Fay, 24 May 2012
channel

AJ Electronics goes titsup after etailers snatch punters' wallets

London-based AJ Electronics has bowed out after 28 years in business, and has called in administrator RSM Tenon due to pressure from the High Street giants. The retailer called in the receivers, who are currently looking for buyers for its assets, on 14 March. Weeks earlier El Reg's Channel desk had already caught wind that the …
Paul Kunert, 21 Mar 2012
The Register breaking news

HMV faces the music after crap Christmas

British High Street store HMV will inch away from CD and DVD retail and re-angle itself as a gadget seller, it announced today after another disappointing Christmas performance. With an 8.1 per cent yearly drop in like-on-like sales for the 2011 Christmas period, HMV is turning to technology to spare it financial doom. The …
Anna Leach, 09 Jan 2012
The Register breaking news

Mixed messages for UK small biz

The British economy is showing some signs of recovery, but January's fall in retail sales is a sign that any recovery is weak and still needs help from government and low interest rates. Figures from the Office of National Statistics showed sales fell in January by 1.8 per cent compared to December. David Kern, Chief Economist …
John Oates, 22 Feb 2010
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Stay 10 steps ahead of big vendors before they steal your lunch

So far the data centre channel has been reasonably resilient to the economic downturn, but news of a double-dip recession will send many resellers scrambling for their tin helmets. The reality is that value-added resellers (VARs) are being squeezed like never before, and a most unlikely threat has emerged: big vendors offering …
Andrew Binding, 06 Jul 2012
For Sale sign detail

Struggling tech resellers face winter of annihilation

Reseller insolvencies are predicted to remain at record highs during the December quarter as the UK economy hangs on the edge of a second recession. As exclusively revealed by El Reg in the summer, Graydon stats showed that 175 channel firms went to the wall in the first half of 2011, up 43 per cent on a year earlier, reaching …
Paul Kunert, 24 Nov 2011
hands waving dollar bills in the air

Fewer titsup firms, more titsup people

Fewer businesses went into insolvency in the first quarter of 2010 than last year, but a record number of individuals were declared insolvent. In total there were 35,682 individual insolvencies in England and Wales in the first quarter of 2010 - up 17.9 per cent on the same period of 2009. Bankruptcies were down 10.7 per cent, …
John Oates, 07 May 2010
The Register breaking news

Insolvency levels show upturn in downturn

UK insolvencies have risen sharply in the past quarter as the recession starts to hit small businesses. But the headline figure is distorted by one group that accounted for 729 separate managed services businesses that all went into administration. There were 4,607 compulsory liquidations and creditors' voluntary liquidations in …
John Oates, 06 Feb 2009
The Register breaking news

Company collapses? We've only just begun, warn accountants

An insolvency firm has warned that company collapses could shoot up later this year, as HMRC begins to take a firmer line on payments and long-awaited spending cuts start to hurt public sector suppliers. Begbies Traynor, which produces the Red Flag Alert, said that 140,000 companies experienced "Significant and Critical …
Joe Fay, 18 Jan 2010
channel

Flood of liquidations as credit dries up

Figures from the Insolvency Service show a big jump in the number of English and Welsh firms going into either compulsory or voluntary liquidation. Compulsory liquidation and creditors' voluntary agreements hit 4,941 firms in the first quarter of 2009, up 56 per cent on the same three months of 2008. 316 companies went into …
John Oates, 01 May 2009
globalisation

Business failures to rocket as growth nosedives

UK economic growth will soon slow to its lowest level since 1992, while a drop in consumer confidence combined with a hike in costs could signal a near 20 per cent rise in businesses going bust, two new reports have warned. Employers’ group the Confederation of British Industry (CBI) and leading accountant BDO Stoy Hayward fired …
Kelly Fiveash, 16 Jun 2008
unhappy

World outlook worst since dot-com crash

The economic outlook for the UK is looking as bad as at any time since the dot-com crash of 2001. A survey of 55 leading economists by the Financial Times reveals low confidence in the state of the economy and fears that there is little public authorities can do to improve the situation. Almost two-thirds of those questioned by …
John Oates, 02 Jan 2008
For Sale sign detail

Tech sector burnt by biz confidence meltdown

Finance professionals’ confidence in the IT sector is slipping as UK businesses face the toughest trading environment since the early 1990s, according to a new report. The Institute of Chartered Accountants in England and Wales (ICAEW) latest Business Confidence Monitor was published today. It revealed the index had dropped to - …
Kelly Fiveash, 18 Aug 2008