Hemel Hempstead Var Castle Business Systems has re-emerged just one week after going into receivership.
The firm appointed Southend company Taylor Gotham and Fry as receiver on May 9. It is now up and running with the same company name and management team as before.
Castle apparently changed its name to Hest Computer Systems plc a few days before going into receivership and was therefore able to continue trading under the same name. Receiver David Hudson of Taylor Gotham and Fry confirmed he had been dealing with 'Castle/Hest'.
A source close to the firm said it is now split into five companies with a holding company, Unisoft, and four subsidiaries.
Castle CEO Paul Horabin described the transition as a 'partial management buyout supported by investment' and said the reborn Castle was trying to support the defunct Castle's customers.
He refused to reveal how many creditors the former company had or the amount owed, but said: 'We are in discussion with creditors and will try to reach an amicable agreement.'
Castle's last published accounts, for September 1994, showed revenues of u6.9 million with a pre-tax profit of u283,000 and trade creditors amounting to u696,000.
A creditors' meeting has yet to be scheduled, but will be held within the next three months.
Gainsborough dealer PDQ Services went into liquidation on May 14 at the request of its creditors. PDQ, which also traded as Computer Works, has a troubled history: last year, Microsoft alleged it had dealt in counterfeit copies of Encarta, Windows and Dos programs.
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