U.K.-Based Granville Technology Slips into Administration

London -- Granville Technology Group (GTG), the U.K.-based
company that produced the Time and Tiny computer brands,
announced that it has gone into administration. Almost all of the
company's 1,600 workers at its factory in Burnley, England -- as well
as its 78 Computer Shop retail stores -- will be made redundant.
Administrators said that GTG had fallen victim to the continued price
deflation in the personal computer market, made even worse by a
softening of consumer demand in recent months and pressure from
suppliers. GTG accounts indicate that, since January, the company had
been losing between £1 million and £2 million every month. GMB
union boss Graham Cox said former GTG employees were
"devastated" and that he would be asking the Department of Trade and
Industry to launch an investigation into the matter.
http://www.timegroup.co.uk/