The managing director of struggling value-added reseller (Var) Corporate IT has revealed it will go into voluntary receivership at the end of this month.
The firm's management intends to hold a creditors' meeting on 31 July, when it will ask for the company to be placed into voluntary receivership.
Earlier this year the firm went into a company voluntary arrangement (CVA) after amassing debts of almost £850,000.
The proposed receivership is expected to be overseen by The Kelmanson Partnership and PKF.
Corporate IT's directors held a board meeting in early June, at which the decision was made to go into voluntary receivership, said Kevin Crouch, the firm's managing director.
"We had hoped to retain our customers and bring in new ones, but there was a lack of sales because customers were unhappy dealing with a company in a CVA," he said.
"It is a sad situation. We did all we could to keep the firm going, but eventually we had to say enough was enough."
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