TMTI recoups £50,000 from Woolies

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Mobile and technical support provider TMTI said this week it had received around half of the £97,916 owed it by collapsed retailer Woolworths.

Woolworths was one of TMTI’s major clients. It was contracted to overhaul its electronic customer services. TMTI was then sent a cheque for £97,916 for its services, which was stopped by Woolworths just hours later.

Administrators Deloitte managed to retrieve around half of TMTI’s fee from Woolworths.

TMTI, however, has decided to auction the original cheque on eBay, claiming it to be a “bit of history as the last cheque Woolworths ever wrote”. Proceeds of the auction are to be donated to the National Autistic Society.

The framed cheque has attracted more than £400 in bids but TMTI managing director Crispin Thomas (pictured with cheque) said he hoped to reach £1,000.

He said not receiving the full payment from Woolworths was “a bit of a blow” but TMTI had already earned more than £3.5 million from services to the retailer. TMTI now has a new high profile supermarket customer on its books which it has yet to announce publicly.

Said Thomas: “We’ve had a great year as a company so we’re pretty philosophical about the situation.

“It’s really sad to see the store go, but rather than be unhappy we’ve decided that it’s a bit of history and is worth preserving.”

 

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