Tiny Update

Discussion in 'Plasma TVs Forum' started by scarty16, Nov 4, 2005.

  1. scarty16

    scarty16
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    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 Granville’s 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 — Granville’s 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 Granville’s 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.
     
  2. Daddy k

    Daddy k

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    i wouldnt of thought the trading name of "tiny" would be worth anything :clap: :clap: :clap:
     
  3. Mep

    Mep
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    in fact less than anything!......it will hardly inspire confidence
     
  4. Dankeech

    Dankeech
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    I' leave about 15 miles away from Watford & Watford computers is ok. Why Tiny? :suicide: :suicide: :suicide: :suicide: !

    To think I'd had the last of people I know asking for support on a Tiny PC. Tiny Price, Tiny value, Tiny performance... Does the list need to go on?

    God they were ****.
     
  5. Enquirer

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    They are going to manufacture Plasmas again Ohhh Goody! :rolleyes:
     
  6. scooby do

    scooby do
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    Does anyone know what the outcome was with Lawyer. Or is it still in a classified information!
     
  7. MAW

    MAW
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    Surely he could reveal his secret now.
     
  8. Lawyer237

    Lawyer237
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    It was VERY VERY lucrative, in fact it is the only time I have sued for £3,200 odd and have received many many times that as a settlement. More than that I cannot say :smashin:
     
  9. MAW

    MAW
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    congrats, man! Just in time too. Not much chance of a successful action now.
     
  10. vileda

    vileda
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    Congratulations from me too.
     
  11. Lawyer237

    Lawyer237
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    Thanks, I still feel for all those people who are left with what is, basically, a useless piece of kit. I wonder how many people are still using a Tiny plasma.

    Tiny were most odd to deal with, leaving aside the most bizarre way in which they made written statements (with a Statement of Truth) to the court in the proceedings and then suddenly gave up when they actually had to provide any evidence to support their contentions (did they really think that I would not want them to prove their ridiculous comments?) and would suddenly do virtually anything to prevent the matter getting to court, the odd thing is how they spent a considerable sum of money (I was told into the £500 bracket) sending a courier all the way from Burnley to my house on 3 occasions to pick up a completely useless plasma. I had told them that they would not really be able to sell it (it had security markings on it) and this was just a few weeks before they went into administration...odd beyond belief.
     
  12. Phil57

    Phil57
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    Just to let you all know, I had an action against Tiny.com, judgment was made against them for £1989.00.
    The credit card company (Lloyds TSB) had to pay up following the collapse of Tiny.com.
    I should add that Lloyds TSB behaved fantastically.
    Lesson learnt.............purchase costly items with a credit card!!

    Has anyone seen the cheap plasma TV being sold on e-buyer.....it looks like the same TV but with another name??
     

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