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Gaming laptop maker Rock in administration
Tough times as gaming laptop specialists Rock call in Deloitte & Touche to try and sell the business
Gaming laptop manufacturer Rock Direct has announced that it is entering administration. In a statement on its website, the firm says it has appointed financial management firm Deloitte & Touche to 'attempt to secure a sale of the business as a going concern.'
The statement goes on to say that 'Rock is unable to maintain normal trading
activities during this interim period, including fulfilling sales
orders and undertaking service and warranty work.'
Custom PC also understands that most of Rock's staff have been made redundant.
The statement on Rock's website doesn't go into detail about the reasons behind the firm's failure, but does give a brief explanation:
'The
failure of Rock is partly attributed to the cash flow difficulties
faced as a result of stock misappropriation by a former employee. This
led to suppliers reducing credit limits, further adversely impacting
upon cash flows. As a result of the recent difficulties faced by Rock
in obtaining regular supplies of key components, Rock had effectively
ceased to trade prior to the Administrators appointment.'
The administrators go on to say that they understand Rock offered insurance backed warranties for its machines, and as such are 'currently liaising with the insurance company for confirmation of
how they wish to handle claims arising.'
The Rock forum also appears to have been taken offline. More details as we get them.
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19th May 2008, Staffordshire, UK - Stone Group, an IT provider to the public sector has acquired the trade and assets of Rock Group plc ("Rock") for an undisclosed consideration. The acquisition will enable Stone to offer a larger range of specialist high-end Notebook products to its public sector customers. Stone will fully back the Rock brand going forward enabling the continued development of its market leading gaming technologies as well as securing full ongoing warranty support for existing customers
Comment by robbo at 3:53pm 20th May 2008
From a notice on the Rock Direct website today it looks as if they have been bought and will resume trading.
Comment by stevewilcock at 8:36pm 19th May 2008
rockforum's moved here in a way www.techpond.co.uk lot of old members and ceo of rockdirect. hes not commenting on business coz of rules of admin
Comment by garby at 1:20pm 14th May 2008
Following your outstanding review and recommendation to buy a x770, I ordered one in Jan of this year. It's delivery was delayed for 3 months due to delays in supply of the Penryn processors. That explains it! Furthermore, I found the quality and performance somewhat disappointing. Good job I returned it for a full refund!
Comment by srbhiscock at 9:53am 14th May 2008
I was working for 'The Computer Shop' when they went bust and normally you should receive official notification within 28 days of the close of business. The notification should give you the available options open through them.
Comment by PokerMuppet at 11:25am 9th May 2008
I placed an order with them for the Xtreme 770 about a month ago, and they have failed to deliver it citing a lack of wireless cards. I have not been contacted by anyone yet about whats going on? Does anyone know who might be buying them, or that the timescales typically are for selling a business like this? I cannot claim off my credit card until I get a letter of liquidity, and the company actually billed my card on the day or purchase rather than just reserving the funds, then fullfilling the debit on the day of dispatch - which is also very form too.
Comment by swilcock at 10:46am 9th May 2008
I placed an order with them for the Xtreme 770 about a month ago, and they have failed to deliver it citing a lack of wireless cards. I have not been contacted by anyone yet about whats going on? Does anyone know who might be buying them, or that the timescales typically are for selling a business like this? I cannot claim off my credit card until I get a letter of liquidity, and the company actually billed my card on the day or purchase rather than just reserving the funds, then fullfilling the debit on the day of dispatch - which is also very form too.
Comment by swilcock at 10:46am 9th May 2008
I guess the Rock Xtreme 770 will be coming out of the Top Hardware section of CPC now.
Comment by _Jargy at 10:40am 9th May 2008
I put together a great PC on their website for my photography business (I need the good screen, high memory - which tends to be similar to gaming laptops) went to click buy and it redirects to a statement from the administrators. Lucky I didn't buy it at the beginning of the month after all. Unfortunately the next best ones are either Sony (way expensive) or Dell (just don't trust the build quality).
Comment by mhaswell at 9:24am 9th May 2008
I feel sorry for the little guys (i.e. us) who have current orders placed, warranties, sent laptops away, etc who are now sweating... big time. I am suprised though that a member of staff stealing has brought the whole company down. Surely they have insurance for just this sort of thing. I'm guessing that with such a small niche market for poweful gaming laptops one jenga brick tugged brought the whole tower down!
Comment by pveater at 7:45am 9th May 2008
I feel sorry for the little guys (i.e. us) who have current orders placed, warraties, sent laptops away, etc who are now sweating... bit time. I am suprised thought that a member of staff stealing has brought the whole company down. Surely they have insurance for just this sort of thing. I'm guessing that with such a small niche market for poweful gaming laptops one jenga brick tugged brought the whole tower down!
Comment by pveater at 7:38am 9th May 2008
BONG! Alistair Darling has announced that the government will be bailing out Rock with £10m of taxpayers money in order to keep the company afloat. He has also pledged to keep the company's assembly & repairs plant under 24-hr armed guard in case any bâtard égoïste decides to try that one again. And good news now, as the chairman of Rock says that, unlike the other Rock that was lifted out of the sewage works, there is actually a hope in hell of the money being repaid within his lifetime. I'm Trevor McDonald...I'm as hot as Keeley...Bong
Comment by EdArch at 3:09am 9th May 2008
Gaming laptops is probably too niche to be sustainable in a single company. But it doesn't help when one employee steals £200,000 of stock. Addict stole £200,000 from work: http://www.kenilworthweeklynews.co.uk/newsl/Addict-stole-200000-from-work.3576225.jp Gambler blew £200,000 of his employer's money: http://www.leamingtoncourier.co.uk/news/Gambler-blew-200000-of-his.3967688.jp Rock in Administration: http://www.leamingtoncourier.co.uk/CustomPages/CustomPage.aspx?pageid=72612 Three years for thief: http://www.safer-neighbourhoods.co.uk/your-neighbourhood/warwick-district/warwick/newsletter/newsletter-24-december-2007/
Comment by Initialised at 1:38am 9th May 2008
My Laptop has been in for repair for 6 weeks now , all i want is my laptop back so i can Ebay it and go back to desktop computers
Comment by landzw at 10:48pm 8th May 2008
This is quite incredible, good luck to Rock. Whatever has happened, Rock unfortunately, have allowed major fraud to take place. They should not have allowed this to occur. Obvious i know, but fundermentally, they should have accounting measures to preclude anybody from trying. I hope they (Rock) make it.
Comment by Tim_Cdy at 8:14pm 8th May 2008
This is quite incredible, good luck to Rock. Whatever has happened, Rock unfortunately, have allowed major fraud to take place. They should not have allowed this to occur. Obvious i know, but fundermentally, they should have accounting measures to preclude anybody from trying. I hope they (Rock) make it.
Comment by trafalger at 8:08pm 8th May 2008
Though we won't see him for around a year (3 years in judge language). Bit crap that he screwed the company, but like PokerMuppet said Rock were in the wrong market as most people want laptops under £1000. Most of the people who buy laptops for more have more money than sense and just buy it for the gimmick and bragging rights.
Comment by TWeaKoR at 6:56pm 8th May 2008
Bummer! I was thinking about buying one of their laptops soon. :(
Comment by l3v1ck at 6:54pm 8th May 2008
http://www.kenilworthweeklynews.co.uk/newsl/Addict-stole-200000-from-work.3576225.jp seems like the court case was on just as Rok bought a 51% share in Rock....... btw they didn't branch out into desktops
Comment by chillbill at 5:46pm 8th May 2008
Shame really, the company made solid laptops before branching out into PCs. If it was down to crime then we'll eventually find out all about it if that person is caught and put on trial. Not to mention everyone who just lost a job being out for their blood...
Comment by KHenry_07 at 3:39pm 8th May 2008
don't use the word rock in your company name anywhere. Or you'll go bankrupt!
Comment by wegreenall at 3:24pm 8th May 2008
Its perfectly possible that the issue behind their cash-flow problems was a single employee/theft. Even if they do have insurance to cover for *internal* misappropriation, i doubt it'd pay soon enough to enable the company to continue paying suppliers. Companies such as rock will work on a very low liquidity ratio (i.e. the money they have available compared to the money they owe) due to product turnover. Therefore it only needs to be a few weeks or so before suppliers demand money, which in this case, Rock were unable to pay. Good luck to Rock, is a shame when firms go down the tubes due to one silly/greedy person
Comment by Snubbsy at 2:55pm 8th May 2008
That is complete and utter rubish. Companies have insurance against theft. What they really mean is that they bought too many stock items which have now been surpassed in performance and demand and the market in gaming laptops has declined beyond their forsight. £300-£500 laptops are the current market trend and have been for some time, not £1000+ gaming laptops.
Comment by PokerMuppet at 2:32pm 8th May 2008
... can tell me anything more about the "single employee" bit as that's the most curous part of it...
Comment by Sifter3000 at 2:34pm 8th May 2008
Stock misappropriation by a single employee causes a whole company to go into administration. Bleedin' Heck.
Comment by Isitari at 2:18pm 8th May 2008
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