Brisbane-based reseller, Briscom IT, which traded as PC Land, has been placed into liquidation owing tens of thousands of dollars to local IT wholesaler, Auscomp Computers.
Briscom IT was placed into liquidation on 27 February, with Anne Meagher of Brisbane’s SV Partners appointed as liquidator.
According to documents lodged by the company’s liquidator with the Australian corporate regulator, Briscom IT went into liquidation owing more than $157,000 to creditors.
According to the documents, Auscomp claims it is owed nearly $62,000, by far the largest single amount of nearly a dozen creditors listed.
Other creditors include Ambient IT, Telstra, Powertek International and the Australian Taxation Office.
Given that just over $137,000 of the more than $157,000 in debt left behind by the failed reseller is owed to unsecured creditors, it remains to be seen just how much Briscom IT’s suppliers will see.
Auscomp, which is wholesaler of hardware and software products from vendors such as HP, Dell, Acer, Lenovo, Cisco, Asus, Microsoft and Symantec, supplied hardware products to Briscom IT for several years before its liquidation.
Sources familiar with the matter told ARN that the challenging retail environment likely contributed to the collapse of Briscom IT, along with other factors, including management.
The Brisbane IT retailer’s liquidation came just days after Melbourne-based online technology retailer, Warehouse1, was placed into liquidation owing over $3 million to secured creditors, among them distributor, Ingram Micro, claiming over $1.7 million.
Also on Warehouse1’s creditors list was Dicker Data, owed more than $716,000, Synnex Australia, with a claim of over $87,000, Multimedia Technology, with $89,775 and Bluechip Infotech, claiming $10,225.
The unsecured creditors listed by the company’s liquidators include Alloys International Printer and Hardware, which is claiming it is owed more than $234,000, Compuworld, Freshdesk, Leader and Secure Pay.
At the same time, the company went down with over $650,000 owing in customer refunds.