UK laptop specialist Rock has become the latest domestic casualty of the ultra-competitive PC market.
It has announced that Dominic Wong and David Langton of Deloitte & Touche LLP were appointed as Joint Administrators of Rock Group Plc today. The appointment has been made with the intention of securing a sale of the business as a going concern.
The only reason given for the failure of Rock is: “cash flow difficulties faced as a result of stock misappropriation by a former employee.” This apparently led to further difficulties as creditors got nervous.
There is a skeleton staff kept on while the administrators try to sell the business and Rock has stated that, until the situation is resolved, it is unable to either fulfil sales orders or undertake service and warranty work.
HEXUS sent a reporter to Rock's HQ in Warwick to find out more.
There were people seen inside, but there was no answer when our reporter knocked on the door. However, the fact that the building appears to be "to let" indicates the current state of play.
Further reading: Novatech in talks with Rock administrator