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Beta Distribution has gone into administration axing 60 employees.
According to a report from CRN, Deloitte has confirmed that they have been appointed as joint administrators.
"Beta Distribution has been experiencing increasing competition in the consumables market and this has placed it under a degree of liquidity pressure and has restricted the availability of credit to their suppliers," Claire Boardman, restructuring partners at Deloitte, told CRN.
"It is a large importer of products from Europe and has, amongst other pressures, experienced issues with foreign exchange rates. Despite interest from a number of parties, no sale of the overall business was achieved and the directors took the decision to place the business into an insolvency process."
Deloitte revealed that it is acting as administrator of Beta Distribution PLC, Beta Distribution Services (UK) Limited, Beta Distribution Services LLP and The Content Wall Limited. Beta Distribution BV, its Belgian arm, is not subject to any insolvency process and continues to trade.
PCR has contacted Deloitte and Beta for more information.
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