The south-east London-based Mac and PC reseller, Mygate Ltd, went into receivership on Tuesday, October 2.

The online mail-order company closed and suspended trading on the same day. The company's assets have been sold to Apple reseller, Cancom by receivers Simon Michaels and David Gilbert, of BDO Stoy Hayward

The Lee-based firm had accumulated debts to creditors in excess of £1m.

A former Mygate employee expressed shock at the news – revealed to staff at 12pm on Tuesday: "We were called into a meeting and told that Mygate doesn't exist anymore," Macworld was told.

Receiver, Simon Michaels, said: "Mygate was forced into receivership due to the continued adverse effects of the economic downturn and pressure on margins in the IT sector, despite posting a turnover of £6m."

Insolvency assistant-manager for BDO Stoy Hayward, Mark Longbottom, said: "The company went into receivership because it couldn't pay its debts. BDO Stoy Hayward were appointed, and tried to realise the assets and sell the business on."