Articles about Administration

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Outsourcery to perform ULTIMATE outsource as it enters administration

Manchester-based failing cloud biz Outsourcery is to undertake a pre-pack administration with Vodafone partner GCI Network Solutions waiting in the wings to buy the company’s assets. The move, exclusively revealed by The Register last week, was confirmed by AIM-listed Outsourcery to the London Stock Exchange this morning. “ …
Paul Kunert, 15 Jun 2016
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UK distributor Steljes goes titsup

Specialist audio visual distributor Steljes Ltd has called in the administrators after liquidity dried up in what was its 29th year of commercial life. The company had “suffered from severe cash flow difficulties over the past year”, a rep at insolvency practitioner AlixPartners, which is managing the end of life process, told …
Paul Kunert, 24 May 2016
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It's MY ball! Stone Computers' pre-pack sale placed on ice

Exclusive The pre-pack sale of Stone Computers has been adjourned due to an alleged discrepancy over shareholder voting rights to appoint an administrator, The Channel can exclusively reveal. Directors at the Staffordshire-based PC builder called in administrator Duff & Phelps last month, after defaulting on loan note repayments to the …
Paul Kunert, 23 Sep 2015

Liquidator: 2e2 preferential creditors to get £745k payout

2e2's preferential creditors, including former staffers made redundant after the business crashed and burned, have been told what they can expect collctively from the financial embers and it's not a lot. The Berkshire-based integrator’s UK ops went into administration at the start of 2013, the result of too many poorly …
Paul Kunert, 15 May 2015
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Gamma Global goes titsup after running out of cash

Manchester-based broker Gamma Global has shut up shop after running out of cash, The Channel can reveal. Creditors first spoke of their concerns about the short-term financial health of the business last week, and just yesterday more channel folk came forward to to say Gamma was unable to process orders. A post on the company …
Paul Kunert, 26 Feb 2015
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You MUST supply dying customers even if they're in administration, thunders UK.gov

Just two tech firms responded to a government consultation on a potentially “catastrophic” change in the law that will force suppliers to keep kit and services flowing to biz customers that are in administration. Under proposals laid out by Business Minister Jo Swinson, providers of “essential IT” will be “prevented” from …
Paul Kunert, 11 Feb 2015

Phones 4u demise: 1,700 employees laid off with redundo package

The axe fell on nearly 1,700 jobs at Phones 4u last night, a little over a week after the High Street retailer went into administration. It brings the total number of staff laid off with redundancy packages so far to 2,325 – nearly half of the company's workers. The staffers had been based at 700 outlets, including 550 stores …
Kelly Fiveash, 23 Sep 2014
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Report: EE in talks to scoop up 60 Phones 4u stores from troubled High Street retailer

EE is reportedly the latest company to pick over the carcass of stricken British High Street mobile phone retailer Phones 4u, which fell into administration late last week. According to the Sunday Times (£), EE has until tonight to secure a deal to buy 60 stores from Phones 4u. The move comes after rival mobile network …
Kelly Fiveash, 21 Sep 2014
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Vodafone to buy 140 Phones 4u stores from stricken retailer

Vodafone has swooped on 140 Phones 4u stores just days after the retailer blamed the operator for contributing to its untimely demise when it slipped into administration late last Sunday. Administrator PwC said in a statement late on Friday that Voda had struck a deal with Phones 4u to re-brand the stores over the next few …
Kelly Fiveash, 20 Sep 2014
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Phones 4u slips into administration after EE cuts ties with Brit mobe retailer

Phones 4u fell into administration late on Sunday, after carrier EE cut its ties with the UK retailer. The company said in a statement that's EE's "unexpected" decision not to renew its contract with Phones 4u meant the High Street business would be without any mobile network partners. EE's withdrawal from that deal, which …
Kelly Fiveash, 14 Sep 2014
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Brits' BORKED Samsung kit held up after repair centre slips into administration

British Samsung repair centre Samuel King Intelligent IT Solutions has gone under, leaving folks stranded without their serviceable Sammy equipment. The repair firm, which fixes mobiles, TVs, laptops and other Samsung tech, said on its website that it had gone into administration, without giving any further information other …
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Microsoft's anti-bug breakthrough: Wire devs to BRAIN SCANNERS

Microsoft is developing a new approach to splatting bugs in software before they take down production systems. It involves wiring up programmers to sensors that record brain activity, track eye movement, and test how sweaty the engineers are. If the developer is stressed – bingo, they're probably reading some rather hairy …
Jack Clark, 15 Jul 2014
Dell's Converged Blade Data Center stack

Hack-smacked Alphadex bought by iRack Ltd ... or is that Networks Ltd?

Exclusive Brit data hosting biz Alphadex has been rescued from administration and bought up by a new firm, though there seems to be some confusion over just which firm is its white knight. Alphadex, which went into administration after British Gas issued a winding up petition for unpaid bills last month, said in an announcement on its …

KPMG: UK tech supplier takes on 'majority' of customers from titsup Glasshouse

More than half the workers at defunct storage consultancy Glasshouse Technologies have been chopped after administrator KPMG failed to find an investor to secure the business as a going concern. Glasshouse simply ran out of cash and called in the receivers late last month just days before it was due to defend itself against a …
Paul Kunert, 23 Apr 2014
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Bell Microsystems circles cawing above corpse of Glasshouse UK

South coast-based tech supplier Bell Microsystems is trying to pick up customers and staff at bust storage integrator Glasshouse Technologies. As we revealed a couple of days ago, hard pressed Glasshouse called in KPMG Restructuring after cash flow dried up, with the administrator looking to offload the business to a third …
Paul Kunert, 4 Apr 2014

Brit education tech supplier comes back to life after collapse

The company formerly known as Tribune Business Systems is about to be reanimated after Dubai-based investment firm VMS bought it out of administration in a classic pre-pack arrangement. As revealed this week, the London-based education supplier called in receivers FRP Advisory after failing to secure additional investment. All …
Paul Kunert, 7 Mar 2014
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Brit schools' supplier Tribune Business Systems RUBBED OUT

Education tech supplier Tribune Business Systems (TBS) has gone into administration due to crippling cash flow issues with FRP Advisory handling the affairs. CEO Sheldon Stoutt was understood to have been looking for additional investment but this did not materialise, and the company called in the receivers in the middle of …
Paul Kunert, 4 Mar 2014

One year on: What exactly did the 2e2 collapse teach us?

Opinion “Sam, I need you in the Heathrow office early tomorrow morning,” read the panicked text from my line manager on a Sunday night. The UK subs of 2e2 Group entered administration a year ago. I had a unique vantage point from where I sat within the crumbling company through the brutal process of administration and seeing the …
Sam Simpson, 20 Feb 2014

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