German system builder giant Maxdata is shutting its UK office, ten weeks after illiquidity issues forced it to file for insolvency proceedings.
The vendor, which owns the Belinea monitor brand, stressed it will continue to sell in the UK - which will now be run out of its Benelux office.
Maxdata filed for insolvency proceedings on 25 June after admitting it had been stung by the “high pressure of the competition and the immense fall in prices in the IT industry”.
The vendor recorded turnover of €469m in 2007, down from €525m a year ealier. Operating losses hit €32.9m.
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