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  "path": "/money/major-british-tech-firm-collapses-into-administration-after-1070-job-losses-and-ps1-4billion-downturn",
  "publishedAt": "2026-06-04T10:27:09.000Z",
  "site": "https://www.gbnews.com",
  "tags": [
    "DWP hands older pensioners up to £647 extra cash",
    "Five leisure centres SAVED from closure after £215,000 council rescue deal",
    "Britain worklessness crisis deepens as record number of households have never worked",
    "The GB News Editorial Charter"
  ],
  "textContent": "\n\n\nExertis UK has entered administration following months of restructuring and heavy job losses at the technology distributor, which previously generated annual revenues of more than £1.4billion.\n\nThe company formally collapsed on May 29, with the business describing the development as “deeply disappointing news”.\n\n###\n\n\n\n\nJoint administrators Martin Armstrong and Andrew Bailey of Turpin Barker Armstrong, alongside James Hopkirk of Kreston Reeves, have now taken control of the company.\n\nAround 70 employees remain on the payroll following the collapse.\n\n###\n\n\n\n\nTRENDING\n\nStories\n\nVideos\n\nYour Say\n\n###\n\n\n\n\nExertis UK had ranked as the fourth-largest IT distributor and marketplace operator in Britain before entering administration.\n\nA statement published on the company’s website confirmed the administrators “act as agents of the company and contract without personal liability”.\n\nThe collapse follows a turbulent period that began after private equity firm AURELIUS acquired Exertis UK from DCC in July 2025.\n\nOnly months after the takeover, the company announced plans in December to reduce its workforce by more than 90 per cent.\n\n###\n\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nEmployees across sites in Basingstoke, Burnley, Elland and Harlow were informed that around 1,200 jobs would be reduced to approximately 130 positions, subject to consultation.\n\nDr Paul Harvey, leader of Basingstoke and Deane Borough Council, described the decision as a “shock” and questioned the role of the company’s new owners.\n\n“It is deeply concerning, especially right on top of Christmas for all the employees affected,” Dr Harvey told the BBC.\n\n### LATEST DEVELOPMENTS\n\n\n\n\n  * DWP hands older pensioners up to £647 extra cash\n  * Five leisure centres SAVED from closure after £215,000 council rescue deal\n  * Britain worklessness crisis deepens as record number of households have never worked\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nHe also called for “full and transparent disclosure from the private equity owners and also those who sold the company in the first place”.\n\nFollowing a 45-day consultation period which ended in January, Exertis UK announced plans to reposition itself as a “specialist, independent distributor” focused primarily on retail operations.\n\nHowever, the strategy failed to stabilise the business.\n\nLess than two months later, the company launched a second consultation process involving all remaining staff.\n\n###\n\n\n\n\n###\n\n\n\n\nAccording to an industry source, efforts to sell the company’s third-party logistics business were also unsuccessful.\n\nThe company’s financial performance had already shown signs of significant deterioration.\n\nAccounts covering the year ending March 31, 2025 showed turnover falling by around eight per cent to £1.43billion, while net losses widened to £47.9million.\n\nDuring January, Exertis UK sold its Exertis Supplies division to evo.\n\nIts audiovisual division also ceased trading on March 1.\n\nAlex Tatham, the former UK managing director at rival distributor Westcoast, said he felt sympathy for employees affected by the collapse.\n\n###\n\n\n\n\n###\n\n\n\n\n“As is so often the case, there are so many losers in this story,” Mr Tatham said.\n\n“I feel particularly sorry for the employees who worked hard to make Exertis a great place to work.”\n\nMr Tatham said distributors ultimately needed to generate both profit and cash to remain viable and described it as “surprising” that Exertis had failed to do so over a prolonged period.\n\nThe joint administrators said they were “currently undertaking an assessment of the Company’s affairs” and continuing to work with the remaining management team and employees.\n\nThey added that it would be “inappropriate to comment further” given the early stage of proceedings.\n\n###\n\n\n\n\n\n\n\n\n\n\n**Our Standards: The GB News Editorial Charter**",
  "title": "Major British tech firm collapses into administration after 1,070 job losses and £1.4billion downturn"
}