Karma MBO confirmed

Chandler at the helm as distie bought out of administration

Andy Chandler today confirmed he would be the new skipper at the helm of Karma UK. Chandler expressed his surprise at the past few weeks' events, which saw the distributor dragged into administrative receivership in the wake of its sister companies CHS Electronics Plc and Metrologie. On Friday at 9pm, Chandler and an internal team at Karma signed an MBO for an undisclosed amount from receivers BDO Stoy Hayward. Chandler is now managing director of the company, which will trade as Karma International in the UK. "The company was very profitable, and we couldn't believe it when it was put in this position," he told The Register. Chandler, former general manager at Karma UK, said he would keep the majority of staff at the Reading-based distributor. ®