A computer company has ceased trading with the loss of 34 jobs just months after being named one of Britain's fastest-growing firms.

Fox Computer Systems, which recently moved to the Maldon's Victorian railway building in Station Road, has been forced to close following a downturn in the PC market.

Last year it was named one of the fastest-growing 50 firms in Britain according to Coopers and Lybrand.

But joint managing director Richard Heard said April and May had been disastrous in trading terms and the company had been unable to recover.

"We were technically insolvent and had run out of working capital," he explained.

The staff were served with redundancy notices on Friday and Mr Heard said it was a very sad day.

"Some of them have worked for us for seven or eight years and were in tears."

Mr Heard said 85 per cent to 90 per cent of the business, which sells computers mostly by mail order, dried up during those two months.

"Sales just fell away. We did more business in the first seven days of June than the prevous two months but it took its toll.

"We were unable to fulfill the contracts and could not sort out the financial position of the company."

Mr Heard, joint managing director with Chris Clarke, said the station building, listed as grade two, was owned by Mr Clarke's wife Sharon and was not affected by the company's closure.

A meeting of creditors is due to be held on Friday.

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