Elonex to re-enter channel

System-builder Elonex has signalled its intentions to re-enter the channel less than 18 months after the company went into administration, rose from the ashes and then went under again.

The company, which was rescued by former IBM vice president Stuart Smith last October, has announced that it has set itself the ambitious goal of making £150 million in revenue over the next 12 months after signing several high-profile retail deals.

Among the companies that have signed up to sell Elonex products are the UK’s second largest supermarket, Asda and High Street chain store Woolworths. The company has also hinted that there are more major deals to be announced in the near future.

Elonex has also signalled that it wants to expand heavily into the Indie sector of the market, saying that it is currently looking for a distributor to handle accounts.

Nick Smith, marketing director at Elonex, said: "Elonex carried out a lot of R&D prior to our acquisition last year and we finished that this year. UK retailers are swallowing up the products.

"We have had to start from scratch, but we are anticipating a turnover of £150m over the next 12 months in the UK alone."