Distributor fails to find buyer

Troubled distributor VLSI International, which was advertised for sale in the Financial Times last week, is still no closer to being sold.

Despite several companies looking around the Hayes premises with a view to buying the company, receiver Horwath Clarke Whitehall has confirmed that no firm offer has been made.

According to Simon Thomas, a joint receiver, VLSI had asked to be placed into administrative receivership because of cash flow troubles. It will continue to trade until a buyer is found.

One managing director, who asked to remain anonymous, looked round the premises last week, and said that the company will be "very difficult to sell. It will be interesting to see who, if anyone, does eventually buy it."

Les Billing, managing director of PC components manufacturer Microtronica, a division of Arrow Electronics, said his firm had been a creditor of VLSI for many years, and was sad to see the company go.

"We were not a major creditor and operated within insured credit limits, but [the company] had been around a long time," he said.

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