No Surrender, says Oric

Rumours of an early bath for Oric Products International have reached such a pitch that the company has issued a statement to combat them. In the past week Oric's debts have been put as high as £4 million, and it has even been suggested that the company might pull out of the UK market. And Oric has helped things along by cutting 15 staff at its Ascot HQ.

Oric concedes that the redundancies have taken place, but points out that there have been 15 new recruits to its operation in Europe, and claims no more redundancies are envisaged. The company refutes absolutely suggestions that it is planning to pull out of the UK market. "Although Oric is doing very well in Europe," says the statement. "Oric is a British company and recognises the need to maintain a position in the UK, which is the centre of the European computer industry."

To allay fears about liquidity further, Oric is claiming $2.75 million worth of orders for its new German keyboard for the Atmos. These have gone to Germany, Austria and Switzerland, with $2 million made up by two major German retail chains.

Making 15 staff redundant may seem an odd way to prepare for a Christmas micro boom, but that appears to be precisely what Oric is doing. An Oric source told PCN that redundancies were originally only intended to be about four or five in the secretarial section, but in the event the number was larger, and is pretty well across the board.

Oric is still banking on an autumn upturn in sales and according to finance director Allan Castle, is ploughing its resources into manufacturing, but the company is still on the receiving end of discounting in the major retail chains. Just a few weeks ago Oric increased the price of the Atmos by £20, but prices in the shops are still around the £150 level, rather than the £190 Oric would like.