Former prez of Misco parent Systemax declared bankrupt
Ex-exec Pim Dale falls on hard(er) times
To say 2015 wasn’t exactly a vintage year for former Systemax EMEA president Perminder Singh Dale – AKA Pim Dale – is an understatement. He lost his job in the summer and by Christmas the man was bankrupt.
According to the London Gazette, a bankruptcy petition was filed against Dale on 7 October by London Law Funding (LLF) Ltd. The bankruptcy order was granted on 15 December at Kingston County Court.
We contacted LLF but the firm said it was unable to shed any light on the case. “It is difficult to say anything, we are bound by confidential information,” a spokesman stated.
Dale’s assets include five properties in Surrey. His cash and assets are likely to have fallen under the control of court officers – or official receivers, as they are also known – as is standard when a bankruptcy order is issued.
The Insolvency Service confirmed that following the bankruptcy order, it will interview Dale to ascertain his assets, liabilities and the cause of the bankruptcy to determine if any further investigation is required. But it was “unable to comment on the specifics”.
During the three years in between, he made a number of changes aimed at making Systemax less of a straight product reseller, acquiring SCC's Dutch business amid plans to build annuity services.
The ideas behind the move might have been right but the process was complex and Dale was unable to spin up the new business lines quickly enough while sustaining momentum with the existing business.
The principle of setting up a shared service centre in Hungary was to shake out costs while keeping customer service up to scratch, but execution coupled with a sales slide meant Dale’s project was cut short.
Dales answered his mobile but when we asked him a question, he said “hello, hello” and then put down the phone. Subsequent calls went unanswered. Maybe it was a connectivity problem. ®