Info-Tech Systems enters into administration
Reseller has debts of £350,000
VAR Info-Tech Systems has entered into administration with debts of £350,000, but the firm is hoping a buyer for its e-commerce division will emerge.
Based in Nottinghamshire, Info-Tech began trading in 2001, initially focusing on the business-to-business market.
Stuart Carlisle, founder and director of Info-Tech Systems, told CRN: “We didn’t see this coming. We had been in talks with venture capitalists to take the business to the next level.
“Unfortunately, we experienced an unusual downturn in sales during August which resulted in cash-flow issues that we couldn’t resolve.”
B&C Associates has been appointed as administrators and a creditors meeting will take place on 11 October.
Nitin Joshi, founder of channel advisory service ChannelMoney, said: “When the director approached Channelmoney it seemed clear that the company had to be wound up to protect creditors and customers. Discussions are underway to house the consumer customer base with another business, but with the proviso that ongoing warranties will be met.”
Stewart Hayward, commercial director at WStore, said: “We find every August difficult and tend to see a 20 per cent drop in business. We prepare for it every year though and August usually proceeds what is typically the strongest three months of the year.”