£1m debts as Link Telecom collapses

£1m debts as Link Telecom collapses
Three networks have cut ties with Bradford based dealer Link Telecom after part of the company went into voluntary liquidation, owing its creditors in excess of £1m.

Link Telecom entered into voluntary liquidation at the end of January, but several of its subsidiaries are still trading under the name Link Telecom.

Mobile revealed in January that the company was connected to a series of cashback deals with schools in the Bradford area, predominantly on the O2 network.

The dealer, which has been trading since 1993, appointed liquidators and called a meeting of creditors at the end of January.

In a document from that meeting, seen by Mobile, it emerged that Link Telecom owed amounts ranging from several pounds, to a claim lodged by O2 for more than £700,000.

The list of creditors includes: Orange, T-Mobile, O2, Vodafone, Avenir Telecom, Fone Logistics, Brightpoint (UK), Data Select, Genuine Solutions and HMRC.

O2, T-Mobile and 3 said they are no longer dealing with the company, while Vodafone and Orange did not comment at the time Mobile went to press.

The collapse of the cashback deals has led to several authorities, including Bradford LEA and the Department for Children, Schools and Families, being made aware of the situation.

However, no official regulator or authority is investigating, despite up to 15 schools in the area claiming that they are collectively owed £700,000.

The trading assets and brand of Link Telecom were bought by Darren Ridge and Robert Sanders, several months ago. They also own the company Parkacre Management Ltd, which is now trading under the name Link Telecom.

Link Telecom directors Robert Hutchings, Richard Bitten, Gary Jeal, Matthew Wright and Kevin Jeal have all resigned in recent months.

Wright has since taken on the role of general manager of b2b at Shebang, Mobile understands.

Gary Fawcett, who was an original director and is working at the reformed Link Telecom, said: We have had some trials and tribulations, but going forward, this company will be profitable and well-funded.'
Written by Mobile Today
Mobile Today

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