I would like to correct B.A Lomas and point out that since Torex Retail formed and went on it's mad buying spree of retail software companies, there HAVE been HUNDREDS of redundancies and many office closures ... culling a great deal of critical development and support staff in the process - which did nothing to encourage existing customers as their major upgrades/rollouts went down the pan within months of being assured the move to that product was in their best interests and they'd now have to migrate yet again! As for there being 'no creditors calling' ... try asking them... Creditors who are still owed sums of money as debt from all the bits of Torex Retail was moved to the holding company that then went into receivership and the assets sold to Cerebus. For signs of stress, try looking towards some of the major customers who had very long relationships with many of the companies before Torex came on the scene ... they're leaving fast for other suppliers who can deliver!

Ted Mackrilly, Soggy Derbyshire, UK

Thousands of Torex shareholders have been wiped out as a collective punishment for the alleged crimes of maybe 5 of their number. The alleged had sizable shareholdings.

5 months ago a rescue team was brought in. These taciturn individuals culled all the executives. 3 firms of accountants did over 8 iterations of the accounts. They found many minor errors but NO SMOKING GUN and NO WEAPONS OF MASS DESTRUCTION. RBS said it must be sold. Torex supplies and maintains the vital business systems for Retail Trades in 67 countries. It is a 24/7 business and in its 3 years history it had grown fast (software 15% sales). There have been no redundancies, office closures, or creditors calling. No obvious signs of distress were visible. A smoke and mirrors job was called for. A pre packaged solution was in place for a company going insolvent. It did not require shareholder approval or AUDITED accounts to be published. It was sold for a song. RBS supply new co finance with shares options.

B.A. Lomas, Palma de Mallorca, Spain