The UK business IT scene is a little smaller today following the announcement that Entatech has entered administration having failed to find a buyer for the business.
Founded by Taiwanese entrepreneur Jason Tsai as part of the Entagroup, Entatech has been in business for 25 years though was only incorporated in its current form in 1999. The company made a name for itself as a trade-only distributor specialising in PC components, gaming, networking, peripherals, and software. Signs that all was not well at the firm appeared late last month when the company began touting for buyers, and discussions with Beta Distribution suggested a buyout was on the cards until the company withdrew from the proposed deal earlier this week.
Following that withdrawal, Entatech has apparently run out of time and has called in the receivers. Managing director Dave Stevinson offered only the following in explanation to Channelweb's CRN
: 'I'm so sorry. I tried so hard to make this work.
' The majority of the company's staff, meanwhile, were asked to vacate the premises on Monday night.
Speaking to PCR
yesterday morning, rival distributor VIP - from where Dave Stevinson hailed prior to his employment at Entatech - is taking up the slack, offering additional credit to Entatech customers left in the lurch and promising to handle warranty returns for any goods they carry. Anyone with outstanding orders or unpaid invoices from Entatech, meanwhile, is advised to get in touch with administrators Christopher Robert Pole and Mark Jeremy Orton to issue a claim for reimbursement during the insolvency proceedings.