Question marks are forming over the future of Trustmarque after sources close to the VAR suggested it is "reviewing its strategic options".
CRN understands the firm had a company-wide meeting this morning to inform staff of the developments.
The move appears to have knocked staff confidence, with a flurry of CVs flying around the channel today.
CRN gathers staff will be paid at least until Sunday, after which the future is unclear. It is understood the firm has about a week to resolve its financial issues - which could include finding another investor or a buyer - or face formal insolvency proceedings.
The firm employs around 200 staff in its York, London, Edinburgh, Glasgow and Manchester branches. Last summer its chief executive Scott Haddow led a £43m management buyout along with its sales director Angelo di Ventura, backed by buyout specialist Dunedin.
According to documents recently filed at Companies House, Trustmarque's financial director Victoria Godliman left the firm back in June.
Trustmarque was unavailable to comment on the claims, but sources told CRN the firm is "reviewing its strategic options" and doing its best to be open and transparent with its staff.
The news came as a shock to those in the channel.
Softcat's chairman Martin Hellawell said the news came as a "big surprise" to him.
Fellow York-based VAR Comparex's managing director Mike Chambers extended his sympathies to any staff which might be affected.
"If the rumours are true then I feel very sorry for the staff and I hope they find something new very soon - that's the worst thing about it," he said.
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