Micro Warehouse's European business is up for grabs after its parent company filed for Chapter 11 bankruptcy protection in the US last week.
The move came just days after the bargain sale of the online reseller's North American assets for $22m to rival CDW.
The sale included assets of the company, which last year turned over more than $900m in the US, but not the accounts receivable or the liabilities, believed to be worth around $100m.
As a result of the filing, distributor Ingram Micro expects to record a third-quarter charge of up to $20m.
Greg Spierkel, president of Ingram Micro Europe, told CRN that the distributor hoped to recoup its losses after the sale of Micro Warehouse's European business.
"We still have a significant relationship with Micro Warehouse in Europe, which operates differently to the US. Micro Warehouse is cash rich in Europe and, if the company is sold as a whole, it will hopefully cover some of the US debts," Spierkel said.
"Ideally, we can recoup all of the money, but it is all up in the air and we don't know how it will end up."
David Atherton, managing director of UK rival Dabs.com, said: "Micro Warehouse in the UK would have some value to us. The firm would be a good fit at first glance. We will be having a look at the business."
However, despite industry rumours that the company might be split and that there could be management buy-outs, Nigel Foxwell, managing director of Micro Warehouse Ltd, said it would be more profitable for the business to be sold as a whole.
"The assets from the US sale were insufficient to cover the secured creditors, let alone the unsecured ones, and now people are guessing what will happen in Europe," he said.
"The deal in the US was done very fast to clear a business that was trading unprofitably, but [the US firm] wants to take longer to sell the European business."
Foxwell said his policy is to continue business as usual until a sale is announced, and that he is confident of becoming part of a "bigger, more financially well set-up parent company".
CRN's Nima Green caught up with Chris Labrey for a quick Q&A at CRN's recent European Channel Leadership Forum
We caught up with the Atea chief exec at CRN's European Channel Leadership Forum in London
Andy Gillett has been appointed GM for the UK and Ireland
UK is one of two countries to see rollout of vendor's newest subscription service