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PCC Technology agrees $22m funding for Evesham restructure

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Evesham, 3rd August 2007
 
PCC Technology Ltd, an investment company managed from Dubai, has agreed an interim funding line for Evesham Technology Ltd to restructure and continue trading, allowing the directors to continue with finding a long-term solution. The funding line agreed at $22 million, will allow plenty of flexibility and as such will allow ample time for the directors to find a permanent solution.
 
Evesham Technology, one of the UK’s longest established Direct PC manufacturers had been in difficulties and needed to re-structure following the closure of the Government backed ‘Home Computing Initiative’, an area in which the company had invested heavily. PCC saw great potential in the brand and agreed to support the restructuring.
 
“It is our intention to allow Evesham to continue with no involvement from PCC in the day-to-day operations”, said Tahir Mohsan, Head of PCC Technology. “We expect the brand to develop strongly and will be looking to divest in the medium term.”
 
He added “Evesham is an excellent brand which has always offered a level of service which its customers have grown to love. By funding this restructuring, we intend to allow Evesham to continue delivering excellent products and services to its customers, so it’s business as usual.”