UPDATE: Time called for Tiny?

Rumours are flying today over the future (or lack of it) of both Time and Tiny computers. Owned by the same parent company, the two brands represent the largest UK based PC builder:

Time Computers closes 78 retail outlets 'for now' because of issues with its bankers, but its mail order business continues

Amid fierce speculation about the future of the company, Time Computers closed all of its 78 Computer Shop stores on Monday.

As staff talked of closed production lines and unfilled orders, and complained of being kept in the dark over company plans, managers tried to put a brave face on the situation, insisting that the store closures were only a temporary measure.

"We intend to carry on in business," said Richard Harris, the head of human resources of Time Computers' parent company, Granville Technology Group. "We have had to close the stores because of issues with the bank".

More from ZDNet here.

Sad news for the employees, but will anyone shed a tear over the demise of two such companies? Stories abound over shoddy goods and customer services and sharp practise when it comes to it's ads.

They may be planning on keeping the mail order / web order side running - but even if they had decent gear at reasonable prices and had a support system that worked, I wouldn't place an order with them. I can't see many orders being fullfiled...

Discuss this news in the aptly named news forums here.

UPDATE: According to the BBC, and a sharp-eyed bit-techer, the company is now in administration.