Boohoo for Kalamazoo

NEWS UK software specialist, Kalamazoo has fallen victim to its own shareholders who have put the company into voluntary liquidation. The Birmingham-based company has been in severe financial troubles as a result of pension rules imposed on UK companies. The rules meant that as the downturn in IT sales hit, the company's value became dwarfed by the size of the scheme. By the beginning of the year Kalamazoo was worth £12m compared. Its pension scheme, by comparison, had risen to £85m. Kalamazoo's business has been sold to UCS, a Houston, Texas-based computer group. The remainder of the company will be distributed to shareholders who expect to receive a dividend of 10p in the pound.