ARCR1@vaxa.york.ac.uk (12/09/88)
Dear All,
David has asked me to post this to the network. He is concerned about the
number and variety of rumours about NICHE, and as he has had direct contact
with some of the parties involved he is in a strong position to comment.
Andy Raine
>From: D.Fincham <cca34@uk.ac.keele.seq1> 8-DEC-1988 14:42
To: ARCR1
Subj: Re: Niche rumours
I had an order outstanding with Niche in Bristol and was expecting
delivery imminently when they closed their doors. I immediately
called the American company and was put through immediately to
Richard Bloch, the Chairman. This is what he told me:
The venture capital money failed to materialise when promised.
The reasons were entirely due to the personal circumstances
of the capitalists involved, and nothing to do with the
performance or prospects of the company: they had a good order
book.
Due to stricter company law in the UK than the US the UK company
could no longer continue trading legally and had gone
into receivership. The US company was in a position to continue
for a couple of months on exisitng capital.
He was hopeful of raising more capital within a couple of weeks
to enable both companies to continue in business. However, he
was aware of interest in buying the UK business.
Subsequently, when I heard the rumour that Transtech were interested
I telephoned them. They confirmed that they had bought the business,
had reemployed the development staff, and would continue to market
the Platform and support it themselves. They have a cooperative
agreement with the American company. I will visit them tomorrow,
December 9th, and try to find out more: in particular the the
health of the American business.
David Fincham, University of Keele