About Altech computers
Distributor, Altech Computers, has pointed the finger at credit insurance companies for its demise.
Altech appointed administrators, Andrew Scott and Daniel Walley of PPB Advisory on December 3, after more than 18 years in business.
Altech managing director, Antony Sheen, said credit insurance companies were too negative, and when its credit cover was removed, the distributor instantly lost half of its turnover. He also cited personal issues with credit insurance provider, Euler Hermes.
“This heavily damaged our cash flow,” Sheen told ARN. “We did our best, but more insurers were scared and it was like a chain reaction.”
Source: This is an extract from the company's own website.