Genee World CEO on liquidation, distie woes and resurgence

One of the vendor's entities went into liquidation last year, but chief exec says it's business as usual

An ill-fated distribution agreement triggered Genee World's liquidation, CEO Ranjit Singh has told CRN, stressing that the vendor has bounced back with a new structure.

AV vendor Genee World Limited went into liquidation last year, but the vendor has continued to trade.

Genee Group Limited holds the IP, while its products are distributed by G Tech Innovation (also part of the group).

Singh told CRN that Genee World Limited was sent under by a distribution agreement that underperformed, with the vendor now operating a single-tier model.

The CEO said he couldn't go into specifics, but explained: "There are still some legal things I have to be careful about, because there is some litigation.

"The fundamental reason that Genee World Limited went into liquidation is because we entered into a distribution contract that didn't work out for us.

"It didn't mean the whole UK business collapsed. The business has continued.

"Financially the company is sound. We own our own premises, we carry about £1.5m of stock in Manchester and the availability of that stock has not been impacted."

A report by the liquidator, filed with Companies House, shows that Genee World Limited went under owing £1.4m to trade creditors and nearly £85,000 to former employees.

Singh confirmed that employees have been let go as a result of the administration.

The largest trade creditor is touchscreen manufacturer Hitevision, which is owed just under £928,000.

Singh stressed that the vendor's operation has not been affected, with the firm continuing to launch new products, exhibit at trade shows and hold partner events.

He also said that Genee World International is still trading as usual. The business in the UK operates a single-tier model, with the international arm utilising distribution.