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Optima administrator calls for expressions of interest

Optima administrator calls for expressions of interest

Creditors meeting called, warranties a major concern

Administrator, Moore Stephens, is inviting expressions of interest in troubled local PC manufacturer, Optima, and its retail arm, Digital City.

A creditors' meeting has also been called and will be held at the Crowne Plaza Parramatta on August 4.

Co-administrator, David Mansfield, said more than half of Optima's staff, primarily in manufacturing, had already been made redundant. The main priority, he said, was to extract as much value as possible from the company's assets.

"Adverts have been placed today for expressions of interest in acquiring parts of the business or its assets," Mansfield said. "There's quite a range of parts to the business that people might be interested in - anybody that wants to contact us is welcome to do that."

Moore Stephens is also working to make arrangements for outstanding warranty claims.

"We'd like to come to an arrangement with somebody that will pick up the warranty work but it's complicated; some parts are not necessarily covered by the manufacturer's warranty and then there are other costs for installation and freight," Mansfield said. "We're looking at that rather urgently."

ASX-listed Optima called in administrators last week after trading in its shares was suspended a few days earlier.


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