After 45 years in business Hills Components has ceased trading.
The Watford-based firm described itself as a trade and educational supplier, primarily offering IT hardware and accessories to its clients. It flogged Acer, Dell and Epson gear and hired 20.
It went into liquidation on 13 September, appointing Mercer & Hole accountants on the same day. Apparently the outfit had acquired too much debt and had an inventory of outdated stock.
The e-tailer reported assets of £2 million in its financial 2017, a lot of that stock was outdated and was removed from the company’s catalogue, causing it to sit unsold.
This sort of problem is typical issue for many channel players who become significantly overstocked and the price comes down. The only way to turn the product into cash is to lose money on it.
