PC General vanishes overnight, receiver appointed

Stephen Tubbs of Searell and Co in Christchurch has been appointed the receiver for PC General. The announcement of who the receiver is came after a day of confusion on Wednesday for suppliers and customers who couldn't establish who the receiver was.

Stephen Tubbs of Searell and Co in Christchurch has been appointed the receiver for PC General.

PC General ceased trading on Tuesday night, citing “difficult trading conditions” as the reason.

The announcement of who the receiver is came after a day of confusion on Wednesday for suppliers and customers who couldn’t establish who the receiver was. One customer, Ted Jones, had taken his son’s computer in for an upgrade as late as Tuesday, and was surprised to find the doors closed and the telephones unanswered when he attempted to pick up the computer the very next day.

He is now contacting Tubbs in the hope that he can have the computer back quickly.

It’s uncertain whether the receiver will allow the company to continue to trade.

PC General director David Sinclair faxed suppliers on Tuesday informing them that Commoditicorp Investments NZ Ltd, trading as PC General, would cease trading from 5.30pm that evening.

The message went on to say: “This is because difficult trading conditions make it imprudent for the company to continue trading.

“Before making this decision the board considered all viable options to enhance the company’s performance or sell the business as a going concern.”

He went on to say that the board hadn’t advised suppliers of the company’s position previously, because it could have undermined the possible sale of the business as a going concern.

“The company’s solicitors will shortly inform the company’s debenture holder of the board’s decision. As soon as that happens the receiver may or may not allow the company to continue to trade.”

Attempts by Computerworld to contact Tubbs and PC General management have so far been unsuccessful.

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