Accepting the reality there was “no future for the business” BMS Technology directors, John and Beverley Reid made the agonising decision to enter into voluntary administration.
The Adelaide-based hardware distributor had been operating for 31 years and expanded into office and warehouse facilities in Perth and Melbourne. Peter Macks and Ian Burford of Macks Advisory were appointed as joint administrators to the business on 10 October.
John Reid said in a statement from the administrators that the company had gone from not making a profit to making losses. Closing the business at this time was a hopeful step in m…
Read the full article at: https://www.arnnet.com.au/article/628790/behind-bms-technology-decision-call-administrators/