Owned by Systemax (formerly, Global Computer Supplies), IT reseller, Misco UK, confirmed earlier this year it was having cash flow problems after it was issued with a winding up petition over unpaid VAT by HMRC.
Talks to save the company from administration and secure additional funding to turn the business around failed at the eleventh hour and Misco UK has now ceased trading.
This comes after the sale of Misco Germany last year, whilst Systemax held on to Misco France, the largest and most profitable operation in the Misco group. Hoping to turn around the loss-making operation, Systemax also sold its technology supplier businesses in North America, however the company were unable to stave off the inevitable.
This closure will result in the loss of 300 jobs from the company’s headquarters in Wellingborough and its warehouse in Greenock.
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