Lan Support folds as debts are called in

Glasgow consultancy company Lan Support has plummeted into receivership following its inability to meet the demands of its creditors.

The company, which is run by four directors including brothers Robert and Stephen Campbell, Kevin McGuire and Bruce Thomson, each with an equal 25 per cent share in the business, was closed on 17 August leaving 35 people jobless.

According to Alan O'Boyle, IT partner at chartered accountants Kidsons Impey, which audits Lan Support, the consultancy - not including Thomson - approached its banker and floating charge holder, the Bank of Scotland, on 14 August.

O'Boyle said: 'The directors carefully considered the business' position and came to the conclusion the company was insolvent.'

Lauience Grainger, joint receiver for Lan Support at Grainger & Company, said the consultancy's directors were being interviewed.

Grainger added Lan Support and its various divisions, which include Lan Media and Information Systems Management (Scotland), would not continue as a going concern but would be assessed and evaluated for sale.

One industry source said: 'I threatened to wind up Lan Support after we were owed #60,000. I had to drop its credit limit twice. I finally spoke to Bruce Thomson who agreed a payment plan over a period which cleared the debt.'

According to another source, Lan Support began to experience problems at the start of the year with some suppliers demanding payment for orders placed in November 1997.

According to Lan Support's financial figures for the year ended 31 March 1997, pre-tax profit dropped from #211,000 for the previous year to 74,000.

Sales decreased slightly from #2,717,000 to #2,426,000 for last year.