Morningstar fades into receivership

Morningstar fades into receivership

Sub distributor Morningstar has told Reseller News it is in receivership.

An account manager at the company, who did not wish to be named, said it was in receivership but directed all other enquires to founder Austin Chen.

Morningstar’s website has not been updated with the news. The Companies Office states that Morning Star Trading is in receivership with the appointment of BDO Spicers. Morning Star Trading is also the shareholder of services company Tech Master. Austin Chen is director and a shareholder of both Morning Star Trading and Morning Star Computer.

It was reselling a number of brands including Toshiba, HP, Benq, Western Digital and Asus.

The company had 40 staff in 2006 and warehouse locations in Auckland and Christchurch.

Product managers Eric Yen and Max Zhang left the company in 2008 and in 2009 sales and marketing director Victor Ho also left to join NZ Computer Sales.

In 2008 Ho said market conditions were quite bad for the company.

It was formed in 1996 when Chen and co founder Wilbur Tarn began selling imported modems from a garage.

Austin Chen was contacted for comment by Reseller News but has not returned calls.

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