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The pair cited that a number of weeks had passed since Beta Distribution’s credit insurers had withdrawn cover, which was the underlying reason for the company’s downfall.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

Audio & Visual Services Company
UK Wide

Apollo has established itself as a leading provider of specialist audio and visual production services to a wide range of corporate events and ceremonies. Offers invited.

Asking Price: Offers Invited
Turnover: £2,000,000

IT & Technology Recruitment Solutions
South East, UK

Multiple opportunities for growth and international expansion. Operates from leasehold premises. Our clients are offering the business for sale to facilitate further growth under the impetus of new ownership. Offers invited.

Asking Price: Offers Invited
Turnover: £2,000,000

LEASEHOLD


B2B CRM Software as a Service (SaaS)
UK Wide

Profitable. Cash generative. Debt free. 318+ customers. Diversified customer base. Recurring revenue streams. IP. Made in UK. Low overheads. Well above industry high-profit margins. Huge expansion potential. Offers Invited.

Asking Price: Offers Invited
Turnover: £2,500,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
29
 
May
 

Monsoon Accessorize close to administration | ADMINISTRATION

Fashion retailer Monsoon Accessorize is close to entering ad...

 
28
 
May
 

M&G completes purchase of Ascentric platform from Royal London | BUSINESS SALE

Asset manager M&G has completed the purchase of wealth manag...

 
27
 
May
 

Food-to-go supplier calls in administrators | ADMINISTRATION

Adelie Foods, one of Britain’s biggest suppliers of sa...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
27
 
May
 

Food-to-go supplier calls in administrators | ADMINISTRATION

Adelie Foods, one of Britain’s biggest suppliers of sa...

 
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 ...

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