Time Computers has closed its retail stores, which trade as The Computer Shop, because they can no longer process card payments.
A spokesman for Time said: "All stores are currently closed. We have a problem with card processing and we're talking to the bank about it. It shouldn't take more than a few days to sort out."
Asked if the company could survive such a break in business the spokesman said: "We have every hope of continuing as a business." Time Computer has about 150 stores across the country.
The company's direct mail and website business is continuing to take orders. There was a management meeting this morning to discuss the problems and staff have been told what is happening.
Time Computers is owned by Burnley-based Granville Technology Group. Granville also owns the Computer Shop, Time Education and Tiny Computers. It employs more than 1,500 people.®