Following its move into administration last year, Concorde Computers has been sold to IT reseller buying group, Computer Australia.
The company's director, David Wu, said it had purchased Concorde's assets - including its branding, three stores and website - with the aim of boosting its presence in Queensland.
"Concorde is a large computer retailer in Brisbane, and as we already have stores there our buying power will increase," he said.
Computer Australia represents a network of IT resellers around Australia. The group now has 34 member stores in Queensland, ACT, NSW and SA.
Wu said it would eventually look to franchise the Concorde business. The group was currently talking to three or four interested parties, he said.
Concorde was forced to enter voluntary administration after chalking up about $1.6 million in debt. The reseller appointed Messrs Horwath Jefferson Stevenson as administrators on November 29.
Speaking to ARN at the time, former company director, Quentin Doodley, said debts stemmed from poor sales in September and October.
Wu said Concorde suppliers he spoke to before Christmas were surprised at its move into administration.
But as a way to cut costs, Wu said he had already reduced head office staff numbers from 17 to six. However, most staff working at the retail stores would be retained.
"We've made huge reductions in purchasing and administration," he said.
Former directors of the Concorde business, Quentin Doodley and Glen Negus, have since left the business.
Concorde administrator, Matthew Joiner, said the dividend from the sale of the business to outstanding creditors was now being determined. A second creditor's meeting was slated for January 31.
According to one creditor, the issue of titles on stock has yet to be decided. As a result, many suppliers are expected to make claims on any stock held by Concorde at the time of its move into administration.