Evesham staves off closure with $22 million funding line

Business as usual according to the struggling company

3 August 2007 20:59 GMT / By Stuart Miles

Ailing UK computer and home entertainment manufacturer Evesham, has received a £10 million funding line from the former Time and Tiny owner to stave off closure.

The firm, which has been struggling since Gordon Brown pulled the plug on the Home Computing Initiative, has said that they will close most of its own brand retail stores due to poor performance.

Evesham was hit hard when the government cancelled the Home Computing Initiative with just two weeks notice, an area in which Evesham had invested heavily.

In a statement released today, Evesham said that it was; "to focus on Web and Channel Sales after undergoing a re-structure" and that the funding from PCC "will allow plenty of flexibility and as such will allow ample time for the directors to find a permanent solution", to Evesham's difficulties.