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Time and Tiny PC goes bust (Read 1744 times)
Steve
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Time and Tiny PC goes bust
Jul 27th, 2005, 2:08pm
 
Might be some clearout bargains... mind you Tiny stuff was mainly crap Grin
 
http://www.sky.com/skynews/article/0,,30400-1190378,00.html
 
PC FIRM AXES 1,500 STAFF  
 
The maker of Time and Tiny computers, Granville Technology Group, is to cut 1,500 jobs after collapsing into administration.
 
It had already closed all 78 of its retail stores and begun laying off staff at its factory in Burnley.
 
It had emerged that all the group's directors, except its part-time chairman, have also resigned.
 
Formerly known as Time Group, it had been producing around 500,000 PCs a year.
 
Its customers include businesses, schools and private individuals and its products have been household names for years.
 
Recovery experts from Grant Thornton decided that the company could not be traded as a going concern.
 
It is understood the redundancies will be at its Burnley HQ and its string of shops nationwide.
 
At its height, the group had a turnover of £250m and more than 150 High Street stores.
 
Granville has been owned through offshore companies in the British Virgin Islands and Jersey by 34-year-old British businessman Tahir Moshan.
 
He resigned as managing director last year.  
 
A statement from Grant Thornton said the group had fallen victim to continued price falls in the personal computer market, made worse by a softening of consumer demand in recent months, and pressure from suppliers.
 
It added the current trading situation meant the redundancies were "inevitable".
 
While the company was profit-making in the year to June 2003, Grant Thornton said it was believed Granville Technology had been suffering losses of up to £2m a month in the period since January.
 
There are thought to be more than two million Tiny personal computers and laptops in UK homes as well as thousands of Time computers in schools, colleges and universities.
 
Granville sells its products through high street stores, called The Computer Shop, as well as through other outlets such as Tesco, Asda and Woolworths.
 
Grant Thornton said it would maintain the existing customer support operation and that it would set up a helpline to assist customers, including those who have made purchases but not yet received goods.
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hypnotist
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Re: Time and Tiny PC goes bust
Reply #1 - Jul 27th, 2005, 3:50pm
 
well it had to happen sooner or later when the public has been conned once they dont forget even if the company merges with another. shame as reading the news report they were taking money for computers which the customer is never likely to see.
 
never really had much to do with Time Computers but i would have thought it was like mercedes merging with rover and trying to flog rover 200's through their network.
 
after all a rover 200 is a rover 200 no matter who is selling it and the same goes for a Tiny Computer.
 
hope no one here has lost any money ?
 
here is a number they have given
 
A helpline has been set up to provide information to customers and creditors: 0870 381 7097.
 
i dont hold out much hope anyone getting much though  
 
regards
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Ghoulie
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Re: Time and Tiny PC goes bust
Reply #2 - Jul 28th, 2005, 1:53pm
 
crap co. / crap products. I had a time computer once - never agin
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