No repayment from Nexpress
Administrator admits resources are low at struggling distributor
Former Sun distributor Nexpress Group is unlikely to return any funds to creditors, following its administration announcement last month, according to administrator Vantis.
The firm entered administration on the 22 December shortly after Sun terminated its contract with the distributor for remanufactured kit (CRN, 19 December).
Bob Bailey, joint administrator and partner at Vantis, told CRN: “The chances of any creditors getting their money or stock back are extremely low.
“We have had interest in Nexpress’ stock, name and customer database and so it could be sold either piece-by-piece or as a package,” he added.
One reseller, which asked to remain anonymous, said it would lose out due to the administration.
“Nexpress owes us about £25,000. It’s a reasonably sized debt and we are talking to our financial advisors,” the VAR said.