Award-winning IT company collapses into voluntary administration

Award-winning IT company collapses into voluntary administration

 

An IT distribution company that has operated for almost 20 years has collapsed into voluntary administration.

Altech Computers was established in 1997 and has offices and warehouses in Sydney, Melbourne, Brisbane, Adelaide, Perth, Auckland and Hong Kong.

The business featured in BRW’s Fast 100 for several years between 2004 and 2006, coming in at number 100 in 2005 with turnover of more than $63 million for the 2004-05 financial year.

Altech Computers was also named Microsoft’s Australian distribution partner of the year in 2008.

The company’s website also claims it has more than 6000 customers Australia-wide.

PPB Advisory was called in to manage the business on December 3, with Andrew Scott and Daniel Walley appointed administrators of Altech Computers Corporation Pty Ltd and Altech Computers Corporation (NZ) Pty Ltd.

The first creditors’ meeting will be held in Sydney on the morning of December 11.

ChannelNews has reported the company is several million dollars in debt.

There have also been a number of job cuts and departures at Altech Computers over the past two years, according to ARN.

However, the business’s Sydney office is still trading.

Altech Computers is not the first medium-sized IT firm to collapse this year.

In October, Intec Group, an IT consultancy firm operating for more than 20 years in Adelaide, entered voluntary administration in what the administrators said is an increasingly competitive environment.

SmartCompany contacted BPP Advisory and Altech Computers but did not receive a response prior to publication.

 

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