Articles about Insolvency

empty_pockets_648

IT supplier? Got a customer who won't pay? Dob them in to the Insolvency Service

From today IT suppliers are encouraged to begin shopping their failing customers into the Insolvency Service, under a new order coming into force that will guarantee payment to providers of companies entering administration. Under Insolvency (Protection of Essential Supplies) Order 2015, the rules have been expanded - …
Kat Hall, 1 Oct 2015

Cloud provider goes TITSUP? Will someone think of the data!

You’ve entrusted your data to a cloud. This has allowed you to sell off (or scrap) your legacy hardware. You’ve got some new, up-to-date software applications. Maybe you have also outsourced all or part of your IT team. You no longer have to manage and maintain the bulk of your hardware, software and data. You are now enjoying …
Fraud image

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
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 …

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, 1 Nov 2013
closed_sign shut down under collapsed liquidation

Don't wait to check your parachute until you're out of the plane

Business failure and insolvency are so rarely a cheery subject. But it's kinda funny how frequently companies hit by high-value losses almost immediately say "we had insurance", as if to say the loss will not be felt too hard. It’s tempting to boast that your debt is insured when it isn’t: it makes the loss seem less …
Eddie Pacey, 17 Jun 2013
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 …
OUT-LAW.COM, 15 Apr 2013
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 …
Paul Kunert, 8 Apr 2013
closed_sign shut down under collapsed liquidation

About to outsource your IT? Read this first

Whenever a major service provider runs into financial difficulties it is undoubtedly an extremely unsettling period, not least for the workforce, customers and management. Tough decisions need to be made in very tight timeframes which often don't allow much time for strategic planning. Financial distress is one of the ever- …
thumbs_up_alternative

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
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 …
Paul Kunert, 23 Oct 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 …
Paul Kunert, 2 Jul 2012
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, 7 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, 5 Dec 2011
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
channel

Some go gracefully in the Channel - and some go messily

Liquidators of defunct reseller Skye IT have confirmed to El Reg that the firm ran up massive debts of £1.9m. As revealed last month, the Chelmsford-based dealer decided to call it a day after encountering insurmountable cash flow difficulties and laid off all 40 staff. A meeting of creditors was held at the London offices of …
Paul Kunert, 18 Nov 2011
graph up

UK Channel insolvency rates soar to nine-year high

Insolvency rates in the UK channel are at the highest level seen since the dotcom bubble burst, official figures have confirmed. The UK economy is looking shaky: inflation is rising, government is forging ahead with harsh public sector cuts and High Street retailers are going into meltdown; parts of the channel are also …
Paul Kunert, 8 Jul 2011
The Register breaking news

Red ink sinks green data centre

An unexpected withdrawal of offshore investment in Melbourne’s multi-million dollar "green" data centre facility ADX1, has plunged the project into administration. Insolvency specialists Sellers Muldoon Benton have been appointed administrators on to the start-up data centre, which ceased operations in February. The company, …

Create a news alert about Insolvency, or find more stories about Insolvency.

Biting the hand that feeds IT © 1998–2017