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Torex Retail

torex.com

Stage

Acquired | Acquired

Total Raised

$600K

Valuation

$0000 

Revenue

$0000 

About Torex Retail

Torex provides in-store and outlet technology to the retail, hospitality and petrol and convenience markets, through a mix of software, hardware, consultancy, implementation & maintenance and services. The company's technology ranges from point of sale (POS) to solutions which help customers deal with merchandise planning, business analytics, loss prevention and multi-channel trading. Also provided are more consumer-facing solutions for e-commerce, vouchering, loyalty programmes and integration with social media networks.In April 2012, MICROS Systems acquired Torex Retail. The valuation of Torex Retail was $263 million.

Headquarters Location

Houghton Hall Business Park Houghton Regis

LU5 5YG,

United Kingdom

(+44) 870-050-9900

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Expert Collections containing Torex Retail

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Torex Retail is included in 1 Expert Collection, including Store management tech (In-store retail tech).

S

Store management tech (In-store retail tech)

1,522 items

Startups aiming to work with retailers to improve brick-and-mortar retail store operations.

Latest Torex Retail News

Royal Bank of Scotland : Businessman sues RBS for 128 million pounds over alleged conspiracy

Jun 11, 2016

0 (You can enter multiple email addresses separated by commas) Message : *Required fields The former CEO of a software company is suing RBS for allegedly conspiring to push the business into administration to benefit from its sale, court filings show, in the latest case to allege misconduct by the bank's restructuring division. Scottish businessman Neil Mitchell is seeking 128 million pounds ($184 million) in damages on claims that Royal Bank of Scotland (RBS) conspired in 2007 with co-defendants KPMG and U.S.-based fund Cerberus Capital Management [CBS.UL] to sell assets of his company, Torex Retail plc, for below their value. Mitchell alleges RBS pushed Torex Retail into administration - a form of protection from creditors under which external managers from KPMG were brought in - in order to force its sale to Cerberus and so rid its books of a bad loan it was owed by Torex, documents filed at Britain's High Court of Justice show. Mitchell also alleges in the court filing that RBS and Cerberus conspired secretly to ensure Torex would be sold for below its value to Cerberus. The allegations include conspiracy by unlawful means, breach of trust and negligence. "We have thoroughly investigated Mr Mitchell's allegations and believe them to be entirely without merit. Mr Mitchell has chosen to issue legal proceedings which will be met by a full defence," a spokeswoman for RBS said.A spokeswoman for KPMG denied it acted improperly, said Mitchell's claims had no substance and that KPMG had applied to have the case struck out. Cerberus declined to comment. The claims once again focus attention on RBS's Global Restructuring Group (GRG), a division being investigated by Britain's financial regulator following claims by hundreds of small businesses which say GRG mistreated them or forced them out of business. RBS, 73 percent-owned by the UK government, asked law firm Clifford Chance to undertake an independent review of GRG, which found no evidence for the allegations. Britain's Financial Conduct Authority has hired firms Promontory Financial Group and Mazars to conduct its own investigation and produce a report, originally scheduled for the end of last year and now expected to be published in mid-2016. The regulatory inquiry comes as RBS Chief Executive Ross McEwan is trying to rebrand the bank as the biggest supporter of smaller businesses in the UK. The court documents name former RBS Chairman Philip Hampton and former Chief Executive Stephen Hester as among those who represented RBS in its dealings with Torex Retail. Hester and Hampton declined to comment.Torex Retail, which sold software for touch screen shopping tills, went into administration in June 2007 after Mitchell and other executives at the firm blew the whistle on fraud they had discovered within the company. ($1 = 0.6930 pounds) (Reporting by Lawrence White and Andrew MacAskill; Editing by Mark Potter) By Lawrence White and Andrew MacAskill 0

Torex Retail Frequently Asked Questions (FAQ)

  • What is Torex Retail's latest funding round?

    Torex Retail's latest funding round is Acquired.

  • How much did Torex Retail raise?

    Torex Retail raised a total of $600K.

  • Who are the investors of Torex Retail?

    Investors of Torex Retail include MICROS Systems and General Atlantic.

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