SpecialTech enters into voluntary liquidation

February 19, 2015 | 11:57

Tags: #closure #financial #liquidation #liquid-cooling #retail #water-cooling

Companies: #specialtech

Pembrokeshire-based PC cooling specialist SpecialTech has announced its closure, ending its winter sale with a message from founder Stephen Probert that the company has entered voluntary liquidation.

Dating back to 2002 and officially founded as a company in 2004, SpecialTech made a name for itself selling liquid-cooling hardware to enthusiasts. The company also offered the usual range of PC accessories, including modding suppies, cases, components and gaming hardware, at competitive prices. Most recently, the company was running a winter sale with discounts of up to 70 per cent off a range of its products - but that doesn't appear to have generated the revenue the company had hoped for, and that has had a profound effect.

'It is with a heavy heart and much regret that I have to inform you that SpecialTech is now closed,' company founder Stephen Probert announced in a surprise update to the company's homepage this week. 'The company has been placed into voluntary liquidation. All outstanding orders have been sent or refunded. Thank you to everyone for your support over the years, it has been a pleasure to serve the community. See you on the other side!'

Probert's statement suggests that all ongoing business has been wrapped up, with those who have ordered hardware either receiving their goods or a full refund - more than many companies which hit the rocks manage to achieve. The closure has also affected the company's official forum, which is no longer available to access.

SpecialTech's most recent financial filings highlighted growing liabilities, reported at nearly £330,000 representing a 14.44% increase year-on-year. With only £185,000 in assets and £9,130 in cash according to documents published by DueDil, it seems that the enthusiast business is getting increasingly tough for smaller businesses.

Probert has not indicated what his plans are post-SpecialTech.
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