Updated: Wolverhampton-based audiovisual vendor Genee World has appointed a liquidator ahead of a restructuring, but stressed that the firm's brand will continue to trade.
CEO Ranjit Singh has told CRN that the future of the Genee World Limited legal entity has not yet been decided, but said that the vendor's products will continue to be sold by G Tech Innovation Limited - a company incorporated in March this year, of which he is a director.
He stressed that all warranties and support agreements in place with partners and customers remain valid.
CRN had previously reported on industry speculation that Genee World Limited had gone into liquidation, citing numerous sources, with Parker Andrews confirming itself as the liquidator.
Singh however has said that a decision on Genee World's future has not been made, with a creditors meeting set for 12 November.
The CEO confirmed that numerous redundancies have recently been made at the firm.
"Every company has to make tough financial decisions," he said. "The decisions have led to a number of redundancies, but the aim of that is to make the company more streamlined and successful going forward."
Genee World specialises in educational products, such as interactive touchscreens and software, and counts Altodigital among its partners.
A notice published in the London Gazette said that a virtual meeting of creditors will be held next week to consider "passing a resolution for voluntary winding up" Genee World Limited.
In a post on LinkedIn, Genee World's former sales and marketing director Jez Warren had stated that the firm had gone into liquidation, with all staff being made redundant.
Genee World is distributed by Northamber, which declined to comment on the matter when approached.
The company's accounts for 2017 were due to be published on Companies House on 30 September, but are now overdue for publication.
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