Systems builder Pars Technology has been placed into administration, following months of speculation about the fate of the firm.
Birmingham-based insolvency practitioner Rendle & Company was appointed as an administrator on Friday, taking responsibility for the firm's business and property with immediate effect.
Rumours about the Milton Keynes-based firm's financial security have been circulating for some time, with sources claiming late last year that its customer list had been put up for sale and that large numbers of its staff had been made redundant.
Earlier this month, ChannelWeb was informed by a member of staff at Pars that the firm was on the verge of being acquired. At the time, numerous channel sources named Viglen, Centerprise and Mesh as possible suitors, because of the firm's focus on the education sector.
Nick Smith, marketing director at tablet and e-reader manufacturer Elonex, said: "The system builder market has declined over a period of time and has diminished and died. It is a great shame as PARS was one of the original ones."
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