The Wokingham-based VAR should have been doing well. It won a place on a £800 million Welsh public sector IT framework, turned over £8 million in its year ending 31 December 2016. But its operating profits were wafer thin at just £86,000.
MBS had been attempting to raise cash urgently by flogging excess inventory and told staff it could not pay them. Sales director James Baxter wrote on Linkedin that the firm closed its doors after 31 years in business.
The failed MBS attempt left the business “with nothing”, and Millennium had no choice but to call in the administrators after one of the big distributors issued a winding-up order.
“As expected, there is a lot going on at this point, but my main concern right now lies with our 40 personnel and their families who, in this festive period just before Christmas, find themselves without work, through absolutely no fault of their own”, Baxter wrote.
There are quite a few distributors that will feel a bit of pain from the loss.
As recently as a week ago, it was still posting on its LinkedIn page with updates on product launches from its vendor partners, including Panasonic and Sharp. As well as acting as a reseller, it was also a PC builder, having secured Local Named OEM status with Microsoft in 2014.