Suppliers take issue with Anglo transfer

Anglo Corporation creditors are questioning the status of its sister firm Anglo Technology Group

IBM reseller Anglo Technology Group (ATG) is under threat from suppliers following the collapse of its sister arm Anglo Corporation two weeks ago.

Anglo Corporation creditors, owed #7 million, are raising questions about Anglo Technology Group?s right to continue trading as normal.

Just weeks before Anglo directors called in the administrators, suppliers were informed that Anglo Technology, which is run by the same people, had been absorbed into Anglo Corporation.

A letter dated 23 January (pictured above) claimed that ?due to the successful transition of Anglo Technology into Anglo Corporation? existing account facility, assets and debts for Anglo Technology had been transferred.

One creditor, who did not wish to be named, said: ?The letter is done in such a way that it indicates Anglo Technology was a part of Anglo Corporation. The effect is that it has reduced the liabilities of ATG and forced them on to Anglo Corporation.?

According to industry sources, a group of creditors, owed money by both businesses, are banding together to highlight their distress to administrator Coopers & Lybrand.

One industry source said: ?Suppliers want a public execution so it won?t happen again.?

Tudor Nicholls, principal manager at Coopers & Lybrand, confirmed there was an issue. ?It?s something we will be looking into to see if we have any control over ATG,? he said.

?ATG is a separate group although it has similar directors. ATG has moved out of the Woking offices because we didn?t want it to be difficult to distinguish the two businesses.?

Thirty staff have been let go and 70 parties, including Software Warehouse, have expressed an interest in buying parts of Anglo Corporation.

ATG was unavailable for comment at press time.