Nearly new PC company, two careful owners...
PCC Technology Ltd, the Dubai based investment group headed by Tahir Mohsan, the founder of Time Computers, has announced that “the re-structuring of troubled UK PC assembler, Evesham Technology Limited, has been successfully completed.”
PCC now wants to “divest in its investment and is looking to sell the Evesham brand,” according to a press release originating from Supanet and published today.
Mohsan, speaking on behalf of PCC, said: “We are pleased with this investment and what we have been able to achieve, not just in terms of return on investment, but the structuring of the deal in such a way to minimise the adverse effects of an insolvency situation on consumers and employees alike. It shows just what can be achieved when issues are approached in a sensitive commercial manner.”
On the subject of selling the Evesham brand, he said: “When PCC made its investment it was always on the basis that it would look to divest in the future. That time has now come. ‘Evesham’ is a very established and strong brand, standing for quality but affordable product with excellent customer care. It is hoped that notwithstanding the administration, the values that the brand stands for has [sic] been protected and it is hoped that ‘Evesham’ will continue long into the future.”
Apparently the Evesham brand is currently being licensed to Geemore Technology Limited, the company set up by former Evesham chairman Richard Austin and ‘Elite Logo Company Limited’ on 20th July 2007. Elite Logo Company Ltd lists its address as Unit 28, Time Technology Park.
Time Technology Park is also the home to TimeUK.com, as stated on its own website. Supanet Ltd and Total Care and Support Ltd have also stated Time Technology Park as their address in Companies House. It is Geemore that has been selling Evesham branded products since August of last year.
“It is PCC’s objective to seek a buyer for Geemore Technology Limited,” continued Mohsan. “The Company has been offered to Richard [Austin] but he has decided for his own reasons that this is not the right time for him.
“If a buyer cannot be found, Geemore intends to continue but the operation may be reduced to a smaller operation with lower overheads, in a controlled and responsible manner, whilst ensuring that customers are not affected.”
Austin then explained why he didn’t fancy buying Geemore... “Despite some initial involvement with Geemore, I left the company in January, having decided to take a break in my career as far as IT is concerned.” He added: “I guess that having spent the last 25 years in the industry and given the past 12 months, I just don’t have the energy required to make the most of the exciting prospect that Geemore presents.”
Austin is believed to have formed a new company called Alqemi Ltd on 1st February. Evesham Technology’s range of LCD TVs is branded Alqemi.
Evesham released a statement in mid-January, insisting it was still in business and declaring: “We are looking forward to the next phase in ensuring that Evesham Technology remains as one of the UK's specialist Consumer Electronics and IT manufacturers.”
There was no specific reference made to warranties, but on the subject of support for existing Evesham customers Mohsan said: “It was no longer possible for Evesham to provide free support to its customers. However, PCC was conscious not to leave customers out on a limb without any support so has negotiated reduced rates with Total Care so that customers can take up support should they desire.”
Mohsan concluded by saying: “What PCC wanted to demonstrate was that it could achieve a commercial success in a re-structuring scenario whilst at the same time looking after consumers and employees as far as possible. Whilst the solution was by no means perfect, PCC is very proud of what it has been able to achieve.
“Our view is that customers and staff alike should have priority over other creditors in situations where a company has failed. It is noteworthy that the Government itself has this week acted to nationalize the Northern Rock, with one of its main aims being the protection of customers and staff, as a standard administration process would have caused chaos.
“I am not suggesting that the Government should step in whenever there is an insolvency situation, but I do think that the Government should give further consideration as to ways in which these classes of people, who are often unaware of a businesses [sic] trading difficulties, can be further protected when things go wrong. Indeed PCC would welcome engaging the Government in a constructive dialogue on this topic.”
On 11th February an Evesham technical support advisor told HEXUS.channel that Evesham had been in liquidation since 4th January and had stopped selling PCs on 8th February. The Evesham website appears to still be taking orders.
HEXUS.channel would love to hear from any Evesham employees, past and present, or Evesham customers who want to share their experiences with us.
Press release: PCC Technology Puts Evesham Brand Up For Sale After Successful Re-Structuring.
