Tiny PC's Bites the Dust

13 comments
Source Title:
Tiny PCs goes into administration
Story Text:

About 1,500 jobs will go after the UK's largest computer maker, which produces Tiny and Time PCs, went into administration and closed its 80 shops, they had been making monthly losses of up to £2m since the start of the year

Comments

Not for the first time

Not for the first time either. My sympathies to the staff who will lose jobs but their computers were crap.

I'll never forgive TIME for

I'll never forgive TIME for the pile of shit they sold me as my first PC a few years back.

Agree about the jobs though.

ditto!

I'll never forgive TIME for the pile of shit they sold me as my first PC a few years back.

After reading some of the news, it looks as if the press is better informed about their company than the people working there. My sympathy to the employees though.

What a surprise, company

What a surprise, company produces crap, company collapses......
The only annoying thing is that it took so long. Top whack high street prices and below par equipment, pretty much everyone I've known who's had a Tiny computer has had hassle and problems with them.

A shame for some of the bottom end staff, as I expect many of them wanted to do better. Not sure I'd feel so sorry for some of the management.... Some of them will have made enough money selling shoddy kit for me to be concerned about them.

It is good that they have

It is good that they have released a helpline telephone number for worried customers but should they not be stopping their website from taking orders? I must be missing something here, I thought going into receivership and losing 90% of your staff would throw a spanner in the works for customer orders?

its not their website any more

they aren't allowed to touch it legally I don't think - we had a client went into receivership and we were specifically told by the people dealing with it only to accept instructions from them, even though it was still taking orders.

I see Gurtie - does seem a

I see Gurtie - does seem a bit mad though. I can imagine how I would feel having just ordered a new PC then turning on the TV to catch this news.

really stupid

we just took the site down at the end of the month and said it was because hosting wasn't being paid any more :)

I guess if Time have stock and the receivers want to pull as much money in as they can then there's not really anything wrong with it though....

Prediction 1: The company

Prediction 1: The company will be back (just like Carerra, Watford et al) but just in a different name i.e. wipe the slate clean of debt, buy out remaining assets at knockdown prices, start new "limited liability" company with similar sounding name, continue trading. The PC magazines will be given assurances of continued advertising revenue so they'll go quiet about the fact that it's a new company, they'll continue to review the company's products and recommend them to their readers, the company will grow on the back of that. They'll ignore the basics of long term business strategies. They'll go bust. Repeat and rinse.

Prediction 2: One party is going to make a tidy packet out of this and will get paid before any creditors or the general PC buying public. Yes, it's the accountants. They aren't accountable to the public so they'll let the site/s continue taking orders (fully aware that those customers paying with debit cards will lose their money). Fraud is OK as long as it's not strictly defined as fraud in law. ;-)

Added @ 16.07: The website homepages now say that the company is in administration and all other pages are returning a 404.

>The website homepages now say that the company is

Wow - nice to know they read TW... ;)

Who doesn't read TW? :)

Prediction one is working its way: [url=http://business.timesonline.co.uk/article/0,,9075-1711750,00.html
]Rescue Attempt[/url].

Tiny Customers Screwed

Tiny customers 'won't get money'

Quote:
Customers with outstanding orders from Time and Tiny PCs are unlikely to get their computers or their money back.

A source close to administrators Grant Thornton told the BBC such people would become "unsecured creditors" and drop to the bottom of the list for payments.

The crown used to be at the

The crown used to be at the top of the list but, surprisingly, now don't rank as high. The accountants still stand to clean up. As do previous owners (they get an often unmentioned preferential treatment from the administrators). Owners of a company worth less than £0 don't have any positive cash investment in the company anymore so they've nothing to lose from letting the administrators take a whacking great chunk in return for fobbing off the assets to them at knockdown prices. It's the rest of the creditors who lose out in this melee. Sorry if anyone reading this is a customer waiting for a PC.

For those looking to buy a PC note that paying with a credit card is not the magic solution some think it is. It's the best way of paying but you still lose your warranty if the company goes bust. Third party/insurance backed warranties tend to be full of holes. Maybe we should insist on seeing a company's current balance sheet before entering into the one/two/three year relationship of owning one of their computers. {:-(

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