Further to our breaking news story on Friday, we are sharing further details of Nectere’s confirmed liquidation
Ex-partners of Nectere began to receive letters from Begbies Traynor late last week, offering confirmation to the fears and speculation. The letter states;
“Nectere Limited (“the Company”)
The directors, having regard to the Company’s financial position, have decided to take steps to place it into creditors’ voluntary liquidation.
This firm [Begbies Trayno] will be appointed as joint liquidators following the resolution to wind-up the Company being passed by the members.”
Further to this, Nectere released a statement to similar effect.
“In December 2023, the board of Nectere conducted a comprehensive review of the business and its financial position. It is with deep regret that the board concluded the company was insolvent and would require significant investment to continue operating. The board engaged Begbies Traynor, a specialist insolvency firm, to review all possible alternative options. In January 2024, the board formally resolved that steps should be taken to place the company into creditors’ voluntary liquidation.”
The statement went on to say
“We recognise the gravity of this development, and we understand this is a distressing time for everyone involved – our employees, partners and suppliers.”
This follows months of concern and speculation, which has been widely reported on. To date we have not received comment or a statement from the OT Group, as minority shareholders in the business.
If you are a dealer affected by the current situation with Nectere please do remember that there are a number of industry organisations who are happy to help and support you through this difficult situation. If you reach out to the DS team, we can signpost you to some companies keen to support you.
Please also remember that The BOSS Business Supplies Charity is a registered charity specifically established for those needing financial assistance who have worked – or currently work – for at least two years in the business supplies and services industry. They would be happy to speak to you about whether the charity can help if you are a reseller experiencing hardship. To find out more about the charity, visit www.BOSSCharity.org
Finally, if would like to share your experiences with the Dealer Support team, you can do so confidentially by emailing us at hello@dealersupport.co.uk, where we can arrange a convenient time to speak to you. We also invite anyone from the industry who has information or would like to share a view to contact us via the same email address. Our aim is to support the independent dealer channel, share useful information and provide a voice for dealers at this time.
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