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Computer Depot calls in receivers

Computer Depot calls in receivers

Yet another local PC maker has fallen victim to the tough trading conditions in the New Zealand market.

Auckland-based wholesaler, distributor and PC manufacturer Computer Depot (2000) Limited entered receivership on Monday.

In the past two years a number of local IT firms have shut shop, including high profile assemblers The PC Company and Lingo Computer Systems, while in January the Computer Manufacturer’s Association of New Zealand (CMANZ) disbanded.

Computer Depot (2000) is owned and run by Philip du Preez, who is involved as director or shareholder in a warren of other companies, including Business Computers Limited (BCL), which is owned by Computer Depot Limited, a separate company to Computer Depot (2000) Limited.

BCL itself was on the verge of closing down after entering liquidation in May 2003, but was bought by Computer Depot Ltd in June that year.

Du Preez says BCL will continue to trade and he does not expect the fate of Computer Depot (2000) to have an effect on this company.

He adds Computer Depot Ltd is currently a non-trading company.

Du Preez would not comment on details behind Computer Depot (2000) entering receivership, apart from saying the move followed a year of tough trading.

“It has been a difficult year across the board in our industry,” he says.

“It wasn’t a decision that was taken lightly. We are now just concentrating on the matters at hand.”

Derek Farrelly, who was appointed as receiver to Computer Depot (2000), says Du Preez did the right thing to call in the receivers.

“The industry has moved on and it is becoming increasing difficult for small to medium businesses to trade profitably,” he says.

“The director here has taken good solid advice and has met all his obligations as far as we are concerned. He has been very responsible and has acted quickly to cease trading to address the situation in the company.”

Farrelly says creditors will be contacted in the next few days.

Secured parties registered with the Companies Office’s Personal Property Securities Register (PPSR) against Computer Depot (2000) include Ingram Micro, Renaissance and Morning Star.

But Farrelly says he was surprised that only a small portion of suppliers registered with the PPSR.

“Suppliers have a perfect system in the PPSR to secure their position, but very few of them do it. It is certainly in their interest to do it.”

Computer Depot has been operating under several guises since 1993, but Computer Depot (2000) was registered as a company in December 2000.

The company assembled computers under the Penguin and Pilot brands and has offices in Auckland, Wellington and Christchurch.


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