Brocker Technology Group, the parent of defunct IT distribution company Sealcorp, is shutting up shop in New Zealand with the loss of 20 jobs. They include that of chief executive Richard Justice.
Justice, who has headed the company for two years but worked within the group in a variety of finance roles for eight years, says a series of occurrences brought about its downfall.
“There was no single circumstance that led to this,” says Justice.
But he says the loss through fraud of several million dollars by the company’s Australian operation had a significant impact. The subsequent closure of the Sealcorp Australia made Sealcorp New Zealand unviable, he says.
At its peak, Sealcorp employed about 250 people in New Zealand and had total turnover of about $200 million. Sealcorp was put into liquidation earlier this year, owing suppliers including Novell and Compaq millions of dollars.
Brocker’s head office is in Canada, where the company is listed. It continues to operate Fiji-based IT reseller business Datec.