British computer maker Evesham Technology laid off more than 100 staff late Friday, telling them the firm was in "administration". But the ultimate fate of the firm was unclear today, with the Evesham website apparently showing the Evesham brand is under new ownership.
Evesham confirmed on 1 August that it was undergoing a "restructure" following a $22m rescue package from TimeUK founder Tahir Mohsan's Dubai-based outfit PCC.
By this afternoon the firm's website was describing itself as GeeMore Technology Ltd t/a Evesham Technology.
Geemore Technology was formed on 20 July. Evesham chairman and founder Richard Austin is a director of Geemore. Geemore is also registered at the same office as Evesham in Vale Park, Worcestershire.
The Elite Logo Company, a dormant business owned by TimeUK founders Tahir Mohsan and Tariq Mohammed, is registered as secretary of the mysterious new firm.
Austin has refused to comment on the latest developments.
The apparent rebirth of Evesham as Geemore comes hard on the heels of a mass lay-off at the firm.
Sources who have contacted The Register have said the majority of staff were asked to leave the firm at around 4.30pm Friday, shortly after press releases had been sent out suggesting "business as usual" at the firm.
A source at the firm, who was one of the members of staff asked to leave on Friday, told us that Austin confirmed that bailiffs were expected to show up at the firm's premises today.
Staff members, some of whom had been at the firm for over 15 years, were told that Evesham had "gone into receivership" and were taken off the premises immediately afterwards as locks were changed.
Many ex-employees have also told us there is uncertainty surrounding wages still owed, with some reporting that they may have to claim redundancy from the DTI.
One now ex-employee told us that "the atmosphere was appalling" on Friday following a staff meeting at the firm's canteen.
Eddie Pacey, director of credit services EMEA at distributor Bell Micro, told us he wasn't convinced the lifeline thrown to Evesham would be enough to save the firm from collapse, but added: "I wish Father Christmas would give me $22m with no strings attached."
At this stage it is not known which insolvency firm is handling Evesham's affairs. ®