Ciscom sale close, says receiver

The receiver for IT and telecoms reseller Ciscom said on Monday that it was on the verge of selling the company.

The receiver for IT and telecoms reseller Ciscom said on Monday that it was on the verge of selling the company.

The Teddington-based company, which is a major Cisco reseller, went into receivership last week, despite desperate measures to find a suitable buyer.

According to Plimsoll's computer hardware report, Ciscom posted turnover of £12.5m for the financial year ended January 1999, compared with £4.5m the previous year.

The company had predicted turnover of £29m for the year 2000, and £85m for the year 2001.

Maurice Moses, partner at the receiver Levy Gee, said he was confident the firm would be sold.

"We have had a very interested buyer for the past few days and we are hoping to close the sale tonight," Moses said on Monday.

All 80 staff working at the company should be able to keep their jobs, Moses said.

"Cisco would like to reassure all customers they will be supported in any eventuality," a spokesman for Cisco said.

Ciscom was unavailable for comment.