Evesham to close its shops

The chickens are coming home to roost, and not before time either.

http://www.microscope.co.uk/Article139577.htm

Following the loss of HCI revenue due to the scheme being canned by
the government in April, difficulties on the high street and ongoing
price deflation, Euler has cut insurance by 40 per cent.

“There is nervousness about the whole market,” said Richard Austin,
chairman at Evesham, “[but the credit cut] is not devastating. We
don’t like it…but are working within our limits.”

He added that all local PC builders had faced a tough time and were
recovering from the “Chancellor’s hammer blow in April” but “we have
an exceptional order book for the rest of the year”.

System builders need to develop a services portfolio and review
market focus. Austin said Evesham was doing both.

As the leases on its high street retail stores expire, the company
does not plan to renew them. “There is a strategy to phase out [the
shops] and concentrate on our B2B sales — web marketing and
resellers,” Austin added

In article , Johnny
writes

The chickens are coming home to roost, and not before time either.

Proof positive, were it needed, that spamming doesn't pay.

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On Sun, 10 Dec 2006 19:21:56 GMT, Johnny wrote:

The chickens are coming home to roost, and not before time either.

http://www.microscope.co.uk/Article139577.htm

Following the loss of HCI revenue due to the scheme being canned by
the government in April, difficulties on the high street and ongoing
price deflation, Euler has cut insurance by 40 per cent.

“There is nervousness about the whole market,” said Richard Austin,
chairman at Evesham, “[but the credit cut] is not devastating. We
don’t like it…but are working within our limits.”
As the leases on its high street retail stores expire, the company
does not plan to renew them. “There is a strategy to phase out [the
shops] and concentrate on our B2B sales — web marketing and
resellers,” Austin added

Did you see this report today? Things don't look too rosy for this
outfit. If I remember correctly, Euler Hermes cut - or threatened to
cut credit insurance to Watford Electronics back in the Autumn, and we
all know what happened there, don't we?

http://tinyurl.com/32u4l8

Evesham Technology is maintaining close contact with principal
suppliers after credit insurer Euler Hermes withdrew the remaining
limits on the company.

Credit insurers view the UK system builder market with some
trepidation, and last year Evesham was one of many companies to have
its credit insurance downgraded.

Commenting on the latest cut, Evesham managing director Brad Walker
said it continued to trade with suppliers, claiming "it has not been a
big problem and we have not felt the pinch".

The issue seems to have arisen due to Evesham being months late in
filing accounts for the year ended May 2006, leading Euler to request
detailed information. Firms are legally obliged to file company
accounts within ten months of the year end.