From our front-page news:
Popular UK-based notebook manufacturer Rock has gone into administration and appointed Deloitte & Touche LLP to help sell the company. In a notice on their website, Rock points out that part of the reason for failure is due to "the cash flow difficulties faced as a result of stock misappropriation by a former employee".
This was a shock announcement, as the company seemed to have been operating fine. With it now on the selling block, fans of the company can only hope that someone will bite. According to the notice, they are currently in talks with interested parties and like most business transactions, it might be a few weeks before something happens.
For recent sales, there is no guarantee that it will be received by the buyer. If this is the case, you need to check with your credit card provider and see about getting a refund. If a sale of the company does end up going through, the new owners will likely resume activity as normal, but we can hope that they'd check with buyers prior to building systems to make sure they are still wanted.
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The failure of Rock is partly attributed to the cash flow difficulties faced as a result of stock misappropriation by a former employee. 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.
Source: Rock
This was a shock announcement, as the company seemed to have been operating fine. With it now on the selling block, fans of the company can only hope that someone will bite. According to the notice, they are currently in talks with interested parties and like most business transactions, it might be a few weeks before something happens.
For recent sales, there is no guarantee that it will be received by the buyer. If this is the case, you need to check with your credit card provider and see about getting a refund. If a sale of the company does end up going through, the new owners will likely resume activity as normal, but we can hope that they'd check with buyers prior to building systems to make sure they are still wanted.
<table align="center"><tbody><tr><td>
</td></tr></tbody></table>
The failure of Rock is partly attributed to the cash flow difficulties faced as a result of stock misappropriation by a former employee. 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.
Source: Rock