Evesham Technology enters administration

Uncertainty surrounds the future of Evesham Technology after the company was placed into administration - on the same day that it announced a £10m rescue package.

Evesham sent out a press release on Friday afternoon claiming it had secured funding to allow it to continue trading from a company called PCC Technology, run by the former founder of Time Computers, Tahir Mohsan.

This afternoon, officials from DTE Leonard Curtis confirmed that Evesham had also gone into administration that very same day.

The administrator's admission confirms earlier reports about the company's fate from former employees, who were told they had been made redundant on Friday. A press release issued at 4pm today on behalf of Evesham Technology's Chairman, Richard Austin, reads:

I can confirm that Evesham Technology went into administration on Friday 3rd August.

It's no secret that Evesham Technology has been going through some financial difficulties having not been able to replace lost revenue of £30 million which was wiped off of the company's turnover following the decision made by the Government to axe the HCI (Home Computer Initiative) at short notice. Other strong companies in the industry were hit hard by the demise of the HCI scheme. Many of these companies have not been fortunate enough to continue trading, resulting in the closure of many established UK companies and a loss of a number of jobs.

We had heavily invested and allocated many resources to the HCI scheme and as a result around 150 loyal and hardworking Evesham staff have also unavoidably lost their jobs. Many of the staff had worked for Evesham Technology for a number of years and so it is a sad loss to the Evesham Technology family, and to me personally. I have built this company from nothing over a 24 year period and only wish we could have avoided this situation.

The Evesham Technology brand has received an investment of $22 million from well known investor in the industry, Tahir Mohsan of PCC Technology, who recognized the potential of the Evesham brand and the popularity of its products. The company now known as GeeMore Technology Ltd will continue trading as Evesham Technology. As it stands 138 people are still employed here at Evesham.

Although we are all very sad that we have to continue trading without valuable, long standing Evesham staff, we will continue to trade in the UK as one the UK’s leading PC and Consumer Electronics manufacturers and uphold our enviable reputation for service and support. We hope that we have now past this unfortunate time in our company’s history and can look to a positive future.

We would like to reassure all of our customers that they will continue to receive support from Evesham and that their existing warranties will continue to be handled with Evesham’s award winning service, as before.