CET UK enters administration

Reseller closes up shop

Reseller CET UK last week entered administration, but is continuing to trade under control of the administrators while a decision is reached on the future of the company.

Jo McLean, joint administrator at Grant Thornton, told CRN: "CET bought and sold computers and margins were tight. The directors have been seeking extra investment over the past few months. They had found an investor, but then he pulled out, which led to the firm's credit insurers becoming a little twitchy and eventually CET's distributors decided to freeze credit. Without stock there was little alternative for the company but to wind things down."