Rock Group plc / rockdirect.com in administration

UK notebook manufacturer Rock Group plc has gone into administrator (i.e. bankruptcy). A well-regarded supplier of high end notebooks, Rock's financial difficulties are rather unusual.

You might expect that a combination of the "credit crunch" and depressed sales due to the unpopularity of Windows Vista might be to blame, but it appears that the root cause of the problem was sales director Paul Bicknell who stole a staggering £200,000 from the company which led to serious cashflow problems. Bicknell squandered the money on online gambling sites and fast cars and was subsequently sentenced to three years in prison. More details here and here. Perhaps Bicknell took Rock's "change your life" slogan rather too seriously.

Deloitte & Touche LLP are the administrators, customers and trading partners should read the Rock press release and check the company web site for more details.

It's a shame to see a good company go under in such circumstances, but what is even more bizarre is that an employee's gambling addiction cause the problem.

(Tip: if you like a flutter rather too much and live in the UK, try talking to a counselling service such as GamCare). There are other similar services worldwide.