PxPixel
Evesham receives $22 million cash boost - PC Retail

Evesham receives $22 million cash boost

Funding to facilitate channel and high-end systems stategy
Author:
Publish date:
7_CPW_InStore_CouchLaptop.jpg

Ailing UK PC maker Evesham is to receive a $22 million "funding line" provided by PCC Technology Ltd, an investment company managed from Dubai by former Time and Tiny owner Tahir Mohsan. The money, it's claimed, will "allow ample time for the directors to find a permanent solution." Apparently, "PCC saw great potential in the brand".

Evesham has been struggling ever since Gordon Brown, then Chancellor, pulled the plug on the Home Computing Initiative. This was a system of tax-breaks designed to encourage mass computer adoption of PCs. The scheme was axed with only two weeks notice, leaving many companies, including Evesham, in difficulties.

"It is our intention to allow Evesham to continue with no involvement from PCC in the day-to-day operations," said Mohsan. “We expect the brand to develop strongly and will be looking to divest in the medium term.”

Evesham now intends to re-focus on direct sales of high-end PC systems and expand on its channel sales operations. Most of its own brand retail stores are to close as these have not been performing well.

Richard Austin, MD of Evesham Technology, said: “We would like to reassure all of our customers that they will continue to receive support from the same Evesham staff and that their existing warranties will continue to be handled with Evesham’s award winning service, as before”.

Related