Watford Electronics’s stock remains in the hands of administrators, giving unsecured creditors hope of seeing some of the £3.5m they were owed when the firm collapsed earlier last week.
No wonder they went pair shaped with numbers like this:
Though it had grown turnover 30 per cent to almost £50m and as still one of the best known names in the indigenous PC industry it made pre-tax profits of £122,675 After tax and amortization it made £51,800 - a 1 per cent profit margin.
I'm guessing there will be quite a few job losses, but thankfully no customers should be too badly burnt:
The statement also says: "Globally Ltd will endeavour to fulfil all unshipped Savastore.com orders. In line with Watford Electronics' existing policy, Globally Ltd will not charge Savastore.com customers until orders have been despatched."
