Box.co.uk Files For Administration Following Lawsuit (Update: Confirmed!)
Update: 22/01/24: A banner (see below) has appeared on Box.co.uk confirming that the company has officially entered administration.
It’s been a pretty big year or so for Box Limited, as Box.co.uk is one of the biggest PC and tech retailers in the UK, or at least… we thought they were. When Tactus bought them out last year for £100m, it seemed like things were only on the up for Box, but according to our sources, things are looking pretty bleak for the UK retailer.
Box.co.uk Applies for Administration
Firstly, Box may be owned by Tactus, but are currently being sued by their new owner for £18m because they had allegedly over-inflated their value before they were bought out. That’s a big no-no in the business world, obviously, and while I cannot confirm if that is true or not, as that’s a matter for the courts to decide, it’s fairly safe to assume that it has some bearing on their more recent predicament.
Sued by Tactus
Sources close to us, whom we cannot disclose, have informed us that Box Limited has submitted an administration application. Further sources have indicated to distributors of various hardware that “box is end of life” and that their insurance companies are recommending they do not send products to Box Limited. No point sending hardware to them if they’re going into administration, as you would just be throwing money away… not a good business move.
Who are Tactus?
Tactus has only had Box for about a year now, and with £100m invested, the lawsuit and now the company allegedly heading into administration, Tactus can’t be too happy about how this has all panned out. Tactus Group already own Chillblast, Horizon, Geo, and CCL Computers too, so they’ve got some pretty fantastic PC-focused brands these days.
What Next?
However, what the future of Box will be, it’s hard to say, administration doesn’t always mean the brand will vanish, it could be broken up, bought up, or saved… we just don’t know, and anything else would be speculation at this point. However, I’d maybe think twice before placing a big order from them right now.
