Tamworth based PC manufacturer, Sight and Sound Computers (SSC), has ceased trading and Devon based manufacturer, Protek, has been liquidated following the failure to sell the company as a going concern.
SSC, which operated the Atlantic PC brand, closed its doors 28 July due to cash flow problems.
A source close to SSC revealed that the company’s financial troubles were triggered by its turnover falling from £100,000 per month to £30,000 per month.
One of the largest creditors is believed to be Nat West bank. An administrative receiver has not yet been appointed, but discussions are continuing in an attempt to save the company.
The failure to sell Protek as a going concern has resulted in the liquidation of its assets.
A spokesperson for Protek’s receivers, BN Jackson Norton confirmed that the decision to wind up the company occurred after a creditor’s meeting on 31 July.
He added that an investigation into how the company was run would be launched.