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April 11, 1997updated 05 Sep 2016 12:58pm

AMERIQUEST ADMITS IT DOESN’T KNOW ITS BUSINESS

By CBR Staff Writer

AmeriQuest Technologies Inc has turned out to be nothing that the big German computer distributor Computer 2000 AG thought it would be when it took a majority stake in the US distributor a couple of years ago. The latest bit of bad news for Computer 2000 – and for AmeriQuest’s public shareholders in the US, is that losses for the year ending September 30 could be as high as $45m with about $25m of that coming in charges for yet another planned restructuring. The company is also looking at disposing of business segments and other assets. Sales for the quarter to March 31 were substantially below expectations and it blamed its inability to compete effectively in the standard distribution of computer products. It plans to cut its workforce and close facilities over the next few months with the goal of strengthening its Advanced Systems Group, which distributes high- end workstations and servers. It is negotiating a $30m cash injection.

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