Rich List tech baron heads home as Itopia reseller biz enters administration
Sources say staff have not been paid
Troubled London-based VAR Itopia Group has gone into administration, The Reg can confirm.
As revealed in recent weeks, the reseller minnow, which of late has been looked after by Sunday Times Rich List regular Robin Lodge on behalf of an investor, ran into financial difficulties and was facing a winding-up petition from wholesaler Computer 2000 over unpaid debts.
A spokesman at administrators CMB Partners said it was appointed on 22 September with partner Brian Lucas handling the case, days ahead of the 26 September court hearing brought about by the distributor.
"Itopia has gone into administration," the CMB man confirmed.
According to sources in the channel, staff had not been paid and Lodge had returned to his home in Switzerland. Lodge was worth £50m in 2009, having made his fortune by flogging software firm Metier to Lockheed for £127m in 1985.
The reseller operated in the network, storage markets and managed services markets, but phone calls to the offices went unanswered earlier in the month, so its administration was only a matter of time. ®
Lodge recently contacted the Register to clarify that he had been brought on board in 2010 by an investor to take a look at the viability of the business. He said he put the biz into administration the next year.