PC vendor Evesham has agreed a refinance and restructuring deal that will see it focus on web sales as well as supplying resellers. The company admits it had been "in difficulties" in a statement due to the ending of the government-backed Home Computing Initiative . It's "an area in which the company had invested heavily."

The company intended to focus on the direct-selling of high-end PCs. Most of its own-brand retail stores are to close as these "have not been performing well.

"Evesham has been a strong performer in the direct sector with very strong Mail Order and Web sales operations," said Richard Austin, MD of Evesham Technology.

"We would like to reassure all of our customers that they will continue to receive support from the same Evesham staff and that their existing warranties will continue to be handled...as before."

A Dubai-based investment company, PCC Technology, has agreed to pump $22 million (£10.77 million).

"It is our intention to allow Evesham to continue with no involvement from PCC in the day-to-day operations", said Tahir Mohsan, head of PCC Technology. "We expect the brand to develop strongly and will be looking to divest in the medium term."