Principal Distribution, a UK distributor of Mac software and hardware, has gone out of business.
The company, which is based in Yorkshire and also has sales offices in Uxbridge, London, ceased trading at 5.30 on Tuesday, August 10. The liquidation is being handled by the Manchester branch of chartered accountants KPMG, who were unable to provide further information, but said a press release would be issued "in due course".
Principal was formed in 1996, after a management buyout from its parent company, P&P. Since then, it has distributed products from Adobe, Farallon, Softarc, Deneba and Hermstedt to name a few. It also distributed products from PMC Electronics,which went out of business last week (see Pace comes to standstill (August 10), and recently took on the distribution of Interex Europe products. According to the company, the turnover for the financial year 1997 to 1998 was £18 million.
Many Mac-industry vendors and dealers were unsurprised at the news, suggesting that Principal’s demise has been in the air for months. Andy Eakins, managing director of Hermstedt UK, said: "Principal has been defying gravity for some time, and finally the laws of physics have taken over."
According to KPMG, any queries from creditors and other interested parties should be directed to the auditors who are in place at Principal’s office, on 01756 704 000.