Hardware (5183)

PC maker Rock goes into administration

Leaves consumers high and dry

8 May 2008 16:03 GMT / By Stuart Miles

PC maker Rock has gone into administration citing cashflow difficulties for calling in the administrators.

The news means that consumers are likely to be affected if they still have outstanding orders.

In a statement on the company's website Rock says:

"Should you have recently ordered and paid for equipment that has not been supplied, you will rank as an unsecured creditor. If your payment was made by credit card, you may be able to obtain a refund from your credit card issuer."

The news, posted on the company website, claims that:

"The failure of Rock is partly attributed to the cash flow difficulties faced as a result of stock misappropriation by a former employee. This led to suppliers reducing credit limits, further adversely impacting upon cash flows. As a result of the recent difficulties faced by Rock in obtaining regular supplies of key components, Rock had effectively ceased to trade prior to the Administrators appointment."

Calling in Joint Administrators Deloitte & Touche LLP the Administrators say they have maintained a "skeleton staff whilst attempts are made to achieve an early sale of the business and assets as a going concern".

The Administrators are currently liaising with a number of potentially interested parties in this regard, the statement says.

Rock says it is unable to maintain normal trading activities and is recommending that equipment should not be forwarded for repair or warranty work at the moment.

Full tags

Hardware, Rock, Biz