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01 Dec 2003
Reseller Addictivity has entered liquidation following a 'card-not-present' fraud.
The security specialist, which sold products from NetScreen, Trend Micro, Tripwire and Bluesocket, was hit last by a scam last month and has failed to recover.
"The directors invested a lot of money and could not afford any more," said Paul Walker, partner at insolvency practitioner Harrison's, which is dealing with the liquidation. He confirmed that the fraud, which cost the company about £70,000, was the main reason for the company going down.
As a result of the liquidation 11 people have lost their jobs. There are 46 creditors, including staff, suppliers and the government, with over £100,000 owed in total.
The company's assets will now be put up for sale. "There are already some people showing an interest. The biggest assets are the debts due to the company [from customers], and we will collecting this," said Walker.
Graham Smee, director at distributor EquIP, said: "It had a good customer base, and was able to sell new technologies.
"Although Addictivity going under is a great shame, it has made more people think about card fraud. If anyone can learn a lesson there is some value."
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