OCC gets stay of execution

Consortium may rescue troubled reseller purchasing group

Office Centre Central (OCC), the reseller-funded purchasing group, could yet be saved from liquidation by a consortium of resellers which invested in the original business. However, managing director Bill Hill is to leave the firm.

OCC, which went into receivership at the beginning of the month, was expected to go into liquidation last week, but news of the consortium's interest has led to an extension of that deadline. Details of the resellers involved in the bid were not disclosed.

Hill said he knew of the consortium's interest, but said he would not be staying at the group.

"It is time for me to move on, but there is still light in the fire of OCC. It would be fair to say the interest has gained it a stay of execution," he said. "It needs a reseller type to drive the group on and, although it would now be difficult to bring back the original employees, the resellers would be in a position to appoint all their own staff."

Nitin Joshi, a director at appointed credit insolvency firm PKF, said the reseller consortium had made its interest known but said it was unlikely to save the firm.