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The pair cited that a number of weeks had passed since Beta Distribution’s credit insurers had withdrawn cover, which was the underlying reason for the company’s downfall.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

IT Infrastructure Solutions
London, South East, UK

An award-winning company with an excellent reputation within the industry. Reputation in the market for high-quality, state-of-the-art tailored products and services. Offers invited.

Asking Price: Offers Invited
Turnover: £3,600,000

Cyber Security Systems
South of England, UK Wide

Provider of in-depth cyber security consultancy and solutions with ten years' experience within the industry. Offers invited.

Asking Price: Offers Invited
Turnover: £1,800,000

Home-Security Technology
UK Wide

A well-established, “Ahead of the curve” provider of advanced home-security technology, with a global reputation, prime market positioning and exceptional platforms for growth. Offers invited.

Asking Price: Offers Invited
Turnover: £5,000,000


View more businesses for sale

News Search

Latest News

 
22
 
Mar
 

Scunthorpe nightclub up for sale | BUSINESS SALE

A former nightclub based in Scunthorpe has been put up for s...

 
21
 
Mar
 

Kent Logistics provider completes a successful acquisition | BUSINESS SALE

A Kent-based personalised logistics provider, backed by Livi...

 
20
 
Mar
 

Warrington construction company enters administration | ADMINISTRATION

A prominent construction business headquartered in Orford Gr...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
19
 
Jan
 

Luxury lodging group enters administration | ADMINISTRATION

An Essex-based company which operates eight luxury lodge par...

 
04
 
Sep
 

E-commerce company acquires beauty product manufacturer | BUSINESS SALE

In a deal valued at roughly £60 million, online retail...

 
31
 
Jan
 

Administration could prompt sale for fashion retailer East | ADMINISTRATION

Popular fashion retailer East has fallen into administration...

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