Rock, a UK-based specialist notebook manufacturer, has gone into administration after announcing that it has appointed financial management firm Deloitte & Touche to try and sell the business.
In a statement released on its website
, the company partly blames the failure on an unnamed former employee, who caused cash flow problems as a result of stock misappropriation.
"This led to suppliers reducing credit limits, further adversely impacting upon cash flows. As a result of the recent difficulties faced by Rock in obtaining regular supplies of key components, Rock had effectively ceased to trade prior to the Administrators appointment,
" the company added.
Most of Rock's workforce have been made redundant, as the administrators have "maintained a skeleton staff whilst attempts are made to achieve an early sale of the business and assets.
" Additionally, the administration firm has said it is "currently liaising with a number of potentially interested parties
" but details of who the firm is speaking to have not been disclosed.
Rock has warned customers that it will not be accepting RMAs at this time, but it did offer the following advice:
"If a going concern sale is achieved
If a sale of the business and assets as a going concern is achieved, a purchaser of the business is likely to wish to fulfil outstanding sales orders, recommence service activities and complete warranty work.
If a going concern sale is not achievable
Should it not be possible to achieve a going concern sale of the business and assets the business will close. Rock will be unable to fulfil outstanding orders and current and future service and warranty work. In this eventuality :
• Should you have recently ordered and paid for equipment that has not been supplied, you will rank as an unsecured creditor. If your payment was made by credit card, you may be able to obtain a refund from your credit card issuer.
• In relation to warranty work, we understand that Rock maintained an insurance policy to cover the extended period of the warranty (years two and three following purchase). This policy did not cover warranty work arising in the first year following sale.
• In relation to the insurance backed period of the warranty (years two and three) we are currently liaising with the insurance company for confirmation of how they wish to handle claims arising.
• In relation to claims arising in the first year of the warranty, any claim / costs incurred represents an unsecured claim. If the equipment was purchased by credit card, it may be possible to obtain reimbursement from your credit card issuer."
This is something that we definitely didn't see coming, and when we completed our Rock Xtreme 770 X9000-8800 review
, everything seemed rosy inside the company. Since then though, Rock's forums mysteriously disappeared and then this has happened - have any of you suffered from sales, support or warranty issues? Share your thoughts and experiences with us in the forums