Queensland-based hardware distributor, Electronic Accessories Australia (EAA), has been liquidated.
Worrell Solvency and Forensic Accountants was appointed voluntary administrator for the PC hardware and accessories supplier on August 14. A decision to liquidate the company was taken on September 8.
Initial estimates suggest EAA owed about $500,000 to unsecured creditors but administrators expect his figure to rise when final submissions are tallied. Its main secured creditor released its charges prior to administrators being appointed. Administrators had compiled a report on plans to recover creditor funds.
While not divulging names, a representative from Worrell Solvency and Forensic Accountants said the majority of EAA's creditors were local suppliers. There were also a couple of Taiwanese partners. EAA's primary business was distributing PC and Mac accessories and peripherals. Vendor partners included PowerShield, Ultra and Edimax.