Sumlock Electronics faces liquidation
Family-run reseller shuts up shop after 36 years
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 Taylor called a creditors meeting for 16 February - but refused to comment on the outcome, directing The Reg to Companies House.
The registered company address for Sumlock has now changed to the same Leeds-based premises used by Walsh Taylor indicating the insolvency practitioner has been appointed to liquidate the reseller.
Distie sources estimate that Sumlock owed around £500,000 to trade creditors, but claimed it was likely that only secured creditors will see a dividend.
Sumlock becomes the latest small dealer to hit the wall following a huge upswing in insolvencies last year. ®