IT distribution company enters administration

Wed, 17 Oct 2018 | ADMINISTRATION



Beta Distribution, a specialist IT services and distributor headquartered in London, has fallen into administration due to an increase in competition within the market.

Deloitte has been called in to handle the administration, with restructuring partners Clare Boardman and Richard Michael Hawes appointed as joint administrators.

The pair cited that a number of weeks had passed since Beta Distribution’s credit insurers had withdrawn cover, which was the underlying reason for the company’s downfall.

Joint administrator Clare Boardman said: “Beta Distribution has been experiencing increasing competition in the consumables market and this has placed it under a degree of liquidity pressure and has restricted the availability of credit to their suppliers.

“It is a large importer of products from Europe and has, amongst other pressures, experienced issues with foreign exchange rates."

According to accounts filed on Companies House, Beta Distribution experienced a turnover of £186 million and a net profit of £950,000 in the financial year ending March 2017. Last month, however, it prolonged its current accounting period.

The company’s bankruptcy follows two other major distribution networks; Steljes collapsed in 2016 and Entatech in 2017 which Beta Distribution was considering acquiring before it withdrew last minute.

Its Belgian network is not subject to administration and will continue its trading operations.

Managing director of VIP (a components distributor) Rich Marsden commented on the situation, stating that: “It’s always sad to see a brand that has been around for as long as [Beta Distributions] go. I don’t know what the underlying issues are, but the market is tough.”

For all our administrations listings, click here. For more news stories about administrations click here.


Share this article



Latest Businesses for Sale

CPQ Software as a Service Provider
East of England, UK

The company is a provider of Configure, Price, Quote (CPQ) Software as a Service (SaaS) and Data to drive eCommerce. ▸ Long-term framework agreements with key clients. High level of recurring income from contracts. Offers invited.

Asking Price: Offers Invited
Turnover: £3,350,000

LEASEHOLD


IT Telecoms Business
Lincolnshire, Yorkshire and the Humber, UK

Profitable and 10-year established telecoms and technology services company based in Lincolnshire complete with Freehold premises. With a large proportion of turnover coming from ongoing and retained client business, the company has a fantastic reput...

Asking Price: £950,000
Turnover: £500,000

LEASEHOLD


Video Content Management Solutions Provider
UK Wide

Provider of complete video content management software solutions for the creation, delivery, and monitoring of both live and on-demand media content. With expertise in streaming software, the company’s offering simplifies the integration of streaming...

Asking Price: Offers Invited
Turnover: £615,000


View more businesses for sale

News Search

Latest News

 
03
 
Apr
 

Chancellor bolsters CBILS for small firms and unveils new scheme for large companies | BUSINESS NEWS

Chancellor Rishi Sunak will today take new measures to suppo...

 
03
 
Apr
 

Benito’s Hat to continue trading despite entering administration | ADMINISTRATION

Fast-casual Mexican food chain Benito’s Hat has entere...

 
02
 
Apr
 

Next puts headquarters and three warehouses up for sale | COMMERCIAL PROPERTY

Fashion retailer Next has put its head office and three ware...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
25
 
Mar
 

Kaupthing plans sale of Oasis and Warehouse | BUSINESS SALE

Icelandic-owned UK women’s fashion retailers Oasis and...

 
11
 
Oct
 

Administrators called in for Links of London | ADMINISTRATION

The most recent company to fall victim to the tough trading ...

 
26
 
Sep
 

Company behind the ‘Boris Bus’ enters administration | ADMINISTRATION

Wrightbus, the manufacturer behind the revived Routemaster a...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources