Ex-Millennium Business Systems sales director James Baxter has acquired the fallen reseller's stock inventory, in a move which he said will realise the best return for creditors.
Millennium, an £8m-revenue Wokingham-based IT and audiovisual VAR, went out of business in November after failing to secure a refinancing deal.
Baxter, who was not a listed director at Millennium, has now confirmed to CRN that he has purchased Millennium's stock, with a view to securing the best possible return to Millennium's creditors.
He told CRN: "I have bought the stock and at the minute I'm doing a massive stock take of loads of audiovisual and IT products.
"It will be only a benefit to the channel and creditors because of the amount I've paid for it."
Baxter added that all suppliers that made claims have had their products returned to them under Retention of Title.
James Reeve of Millennium's administrator Resolve Partners told CRN that an administrator's proposal will be sent to creditors in the next few weeks, but could not offer any more information.
Baxter is operating under the company name Albuhera to shift the stock, but has also set up an audiovisual and digital media company called Radius, which will provide services to the channel.
Radius was set up this year and has already recruited two employees, with Baxter adding that the firm will not undertake any reselling after seeing the profits these services can yield while he was still at Millennium.
"One of the areas that was biggest for Millennium was us selling digital media services," he said.
"It was one of the most profitable parts that Millennium had, it just wasn't one of the biggest parts. If we concentrated more on it we probably wouldn't be sitting here right now."
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