Geller Business Equipment the UK distributor of cash registers and electronic point of sale (EPoS) systems 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 retail hardware market in order to further strengthen its position in the growing EPoS software and EPoS payment processing markets.
Consolis's subsidiaries CES Software and Consolis Payments are already leading players in the development of EPoS software and the integration of EPoS systems with payment processing.
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 on-going cost reductions.
"Regrettably this has resulted in our decision to close Geller Business Equipment with immediate effect."
Moore added: "We will now concentrate on building more focused specialist teams in our software and payment processing businesses. This will bring significant additional benefits to Consolis's customers through more advanced software and new added value services."
Geller, which started out supplying press down key cash registers in 1957, was acquired by Consolis in 2010.
Consolis subsidiary CES Software will offer Geller dealers the opportunity to become a CES Dealer with immediate effect and transfer existing licences purchased through Geller onto their own account. This will ensure minimal disruption to end users and still enable renewals to be issued as part of that agreement. Consolis will be arranging for other suppliers to take over hardware support.
"Geller's customers should not see any difference in the software support they receive," said Moore.
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.