Credit casualty
Vadim Chobanu, the owner of the eponymous Vadim Computers, has announced that V-Solutions Ltd, the official company behind the brand, went into voluntary liquidation today.
Initially, Chobanu blamed the credit crunch for the move, and expanded by detailing how the difficulty in obtaining credit has prevented it from launching an exclusive new case this summer and expanding into the European and US markets.
It seems that after he was rejected by his bank he found some enthusiastic investors who had verbally agreed to offer Vadim even more than it had initially asked for. One of the uses for this cash was to be to further the development of a new super-PC called Ragnarok, currently in prototype phase.
The venture capitalists appear to have had second thoughts at the last minute, which Chobanu ascribes to a lack of understanding of the boutique PC market. It was decided that to commence a new search for investment would increase the risk of not being able to pay existing creditors and so, at an extraordinary shareholders meeting today, the decision was made to go into voluntary liquidation.
Chobanu concluded by saying that the liquidators – BN Jackson Norton – will be looking to sell the company as a going concern and will be dealing directly with those customers who have unfulfilled orders. The situation with warranties will apparently only become clear once they’ve gauged interest in buying the company and it was stressed that the brand and operations of Blastflow are unaffected by all this.
Chobanu himself will be moving to a different market sector, but stated his willingness to assist any potential buyers of the company.
