Time runs out for troubled OCC

Purchasing group faces liquidation

The future of Office Centre Central (OCC) is hanging in the balance with the reseller-funded purchasing group facing liquidation if a buyer doesn't come forward this week.

Two unnamed companies have so far expressed interest in the group but one, believed to be a consortium, has dropped out. A further three businesses are showing interest in OCC's intellectual property, but would not consider a bid for the group as a whole.

Bill Hill, managing director of OCC, admitted that time for a rescue bid was running out. "There has to be a formal bid this week. The administrators are still working though the debt ledger but, if when they finish, there is nothing on the table, the company will be liquidated. There has been no official deadline set, but this week will be decisive," he said.

"There have been three enquiries about OCC's website technology, so if a group bid does not materialise I expect that there will be takers for that once the business is broken up," he added.

The website technology works in combination with a distribution partner and sources, costs and suggests a retail price online. The price is also checked against listed competitors. OCC set up the scheme with Computer 2000.

OCC was founded in September last year by 42 resellers around the country, each of which made a minimum investment of £10,000. It rebranded last month as Vision4group in a last-ditch attempt to attract an investor. OCC had 47 resellers invested when financiers called in BDO Stoy Hayward as administrative receiver earlier this month.

BDO declined to comment on further developments at OCC this week.

Nat Hart, managing director of former OCC partner Landscape, said: "OCC going under was a body blow for us, but I am not aware of any partners in financial trouble as a result. I think the same concept two years earlier would have received significant backing."