UK computer manufacturer Evesham today officially declared that it has gone into receivership following several months of speculation.
Evesham chairman Richard Austin said in a statement this afternoon "I can confirm that Evesham Technology went into administration on Friday 3 August".
Evesham Technology will continue trading under the auspices of GeeMore Technology Ltd following a $22m investment from Tahir Mohsan of Dubai-based PCC Technology.
Tahir Mohsan is the co-founder of TimeUK and the owner of Time Group and ISP Supanet.
Austin cited the closure of the government's HCI (Home Computing Initiative) as a key factor in Evesham's demise. Austin said: "Other strong companies in the industry were hit hard by the demise of the HCI scheme. Many of these companies have not been fortunate enough to continue trading, resulting in the closure of established UK companies and a loss of a number of jobs."
Austin says Evesham had invested heavily in the scheme, which encouraged employers to buy PCs and other IT equipment that they then loaned to staff for personal use. Costs to the companies buying PCs for their employees were offset by the government, which was keen to boost consumer IT skills, while staff could make use of a computer setup at home without having to declare the kit as a taxable benefit.
Austin claims Evesham lost £30 million in revenue when the government unexpectedly closed down the HCI scheme, indirectly resulting in 150 Evesham staff being made redundant. He said, "As is stands, 138 people are still employed here at Evesham."
One of the UK's biggest and most enduring PC retailers, Evesham Technology was founded 23 years ago selling laptops under the Evesham Vale brand. As the business grew, it expanded from its Warwickshire headquarters with a string of high street shops.
Austin says existing Evesham customers will continue to receive support and their existing warranties will be honoured.
No-one at Evesham was available to comment at the time of going to press.