By Heather McLean, 10 October 2001 17:55
NEWS UK company Logitek has opted for voluntary administration after the bulk of the group failed to pay creditors their due. Logitek Distribution, the original company in the group and Logitek Telecommunications are affected, although sister company Vitec and Skills Centre continue to trade. Insolvency firm PKF has moved in Gary Scholes as insolvency practitioner to juggle an undisclosed amount of debt and decide what to do with the company. A source from Vitec said: "The Logitek business just wasn't there really, being honest." The company's downturn began with an out of court settlement in July this year for £1m in unpaid invoices owed to 3Com, spanning December 1999 to September 2000. In a 3Com statement, the company said: "The litigation with Logitek and its related companies was amicably resolved in July 2001." The total amount owed to creditors is not known.
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