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Software distributor goes bust

Software distributor goes bust

Software retailers have been left hanging by the collapse of yet another distributor.

TradePlus International, distributors for Namo Web Editor and ThumbPlus! graphic file viewing software, have gone into receivership.

Ferrier Hodgson has been appointed receiver by the National Australia Bank to recover the assets of the company.

Although TradePlus ceased trading in July, sales staff were chasing orders as late as June, according to retailers.

Ferrier Hodgson turnaround specialist George Georges said it was unlikely retailers or the National Australia Bank would recover any money from the company.

"We are still trying to assess its worth, but with no more licence agreements to distribute software, it is pretty close to worthless," he told ARN.

Adding to the receiver's woes, Korean-based Namo is currently working to appoint alternate Australian distributors. Meanwhile, the company may offer version 3 of its Web Editor software to affected retailers as a download from the Web. ThumbPlus! developer Cerious Software is also negotiating with distributors.

"We have been trying to negotiate with Namo to get stock to meet existing orders, but both companies are negotiating distribution agreements with other companies," Georges said.

The TradePlus Web site was still operational last week. Georges said Ferrier Hodgson had instructed Telstra to take down the site.

"The site should have been taken down last week, but we are not taking any orders anyway," he said.


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