Granville Technology Group administrator reveals £8m black hole The administrator handling Granville Technology Group has unearthed an £8m shortfall in accounts amid suggestions that the owners of the UK system builder will be litigiously pursued by creditors. The owner of the Tiny and Computer Store brands was placed into administrative receivership at the start of the summer, after running up debts of £2m per month from January 2005. Investigations by administrators Grant Thornton have subsequently revealed a massive deficit in Granvilles accounts believed to centre on the transfer of assets, including over £3m worth of stock to a French organisation. According to sources close to Granville, the company provided financing and stock for the start-up and shares were placed in an off-shore company with no links to the parent. Other transfers are being scrutinised by Grant Thornton. More than £4.3m worth of kit from The Computer Store has also proved elusive for Grant Thornton, which has struggled to recover minutes from the board and management accounts that had not been prepared for 12 months. One industry source believed HSBC Granvilles primary lender, which is owed around £20m and unlikely to recoup its money may take legal action against the Mohsan brothers who founded Granville. It is also believed that Grant Thornton may be considering heading down the litigious route and sources have suggested the administrators have raised concerns with the DTI. Earlier this month, Grant Thornton sold the assets and trading name of Tiny and Tiny.com to Watford Electronics, whose managing director, Shiraz Jessa, said he had wanted to buy Granvilles Burnley-based production facility but had been informed that it was not for sale. Granville director Tahir Mohsan, who is now based in Dubai, intends to use the facility to manufacture PCs and plasma TVs for the UK channel and has already opened for business registered to Jersey-based Sapphire Brands. The administrative contact is a PO Box in Dubai.