KPMG has confirmed it will be handling the administration of distributor Entatech, which shut up shop yesterday after failing to find a buyer.
In a statement sent to CRN, KPMG confirmed that Chris Pole and Mark Orton of the auditor were appointed as joint administrators of the Microsoft distributor on 8 May.
CRN understands that most staff were relieved of their duties at 4pm yesterday.
KPMG confirmed it has already made 50 redundancies, but that it has retained 29 employees while it "continues to explore options to sell the business".
In a statement, KPMG partner and joint administrator Pole said: "Entatech has been affected by difficult trading conditions for some time. Following a change in ownership and attempts to restructure the business, the loss of a number of key contracts and declining sales has led to a significant drain on the company's financial situation. This ultimately led to the directors taking the difficult decision to place it into administration.
Stevinson, who has a long association with KPMG, stated: "Chris runs an excellent operation and we have used his team for multiple advisory projects. Knowing he is appointed will be exceptionally comforting to our staff and creditors at this most traumatic time."
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