I've just heard on BBC NEWS 24 that the UK based Granville Technology Group, who are behind Tiny and Time PCs, has went into administration and closed its stores. The Granville Technology Group, formerly known as Time Group, has been making monthly losses of up to £2m since the start of the year. All directors except its part-time chairman have resigned, and the staff at its Burnley factory are to be laid off. There are reports that many customers are believed to have paid for goods in recent days and not received them. Time PCs have been receiving a very bad reputation recently.
"Although this is bad news for all those directly affected it is good news for the UK consumer. They were terrible computers and the problems with them were a regular feature on the Watchdog TV programme," said computer consultant Adrian Mars.
"My favourite was the story of a flat screen that blew up when it was plugged in. The response from the support line was: 'Could you just plug it in again so that we can hear what it sounds like.'"
However, others have blamed continued price deflation in the personal computer market as the cause of the demise.
"The group has fallen victim to the continued price deflation in the personal computer market," said the administrators joint administrators, Andrew Hosking, Martin Ellis and Les Ross of Grant Thornton.
"These redundancies were therefore inevitable."
The closure of the Burnley factory will mean around 1,500 redundancies. Staff were informed of the severity of company's financial troubles at a meeting on Wednesday morning.