Geller Business Equipment - the UK's largest and oldest distributor of cash registers and electronic point of sale (EPoS) systems for the hospitality industry is being closed down with immediate effect as part of the restructuring of its parent company, Consolis Systems Group.
Consolis has made a strategic decision to exit the PoS hardware market in order to further strengthen its position in the growing EPoS software and EPoS payment processing markets with its subsidiaries CES Software and Consolis Payments.
Peter Moore, managing director of Consolis Systems, said: "With the shift to advanced EPoS systems and the growth of contactless and mobile payment processing, we see enormous opportunities to expand our activities in these areas.
"At the same time, it became clear that Consolis could not justify additional financial support for the Geller business which has lost significant sums of money in four out of the last five years. Losses have continued this year despite ongoing cost reductions".
Consolis hopes to incorporate several parts of the Geller business into its other companies and plans to enter into discussions about this with hardware suppliers.
By Lisa Jenkins
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