A for sale sign has been staked in the front yard of fallen distributor Worldwide Solutions ahead of its liquidation next week.
Business rescue firm McTear Williams & Wood is aiming to sell off the parts of the auto-ID specialist after the loss of several contracts forced it to stop trading.
McTear Williams & Wood associate Chris McKay said the distributor had been floored by the loss of a £2m contract with Woolworths at the end of last year. “This reduced its profit-making business substantially,” he explained.
McKay said Worldwide Solutions is currently winding down its trade ahead of a creditors meeting on 7 October, when the firm will be liquidated. “It is trying to honour repair jobs and has kept a skeleton alive in the hope that we can sell it as a going concern upon liquidation,” he said.
He added: “We will look for potential interested parties to buy bits of the business or stock available for sale. There is an opportunity for competition to come in and pick the business up.”
Bromsgrove-based Worldwide Solutions sold barcode data capture devices, mobile application development and enterprise networking solutions both direct to end users and to the trade.
1 October 2009