Financial worries grow for Omega
- 14 December, 2005 14:51
At least three major distributors have put a credit hold on Melbourne-based Omega Technology amid fears that the company is in financial difficulty.
As previously reported in ARN, the Australian Taxation Office (ATO) lodged a wind-up petition against Omega in the Federal Court. The case was originally heard in the Victorian Federal Court on December 5, and has been re-listed for January 23.
The ATO launched the action after Omega failed to comply with a statutory demand.
Ingram Micro and Bluechip Infotech are among those that have put Omega on credit hold. These two companies alone are allegedly owed hundreds of thousands of dollars.
Omega general manager, Barry Donaghey, left the company on November 21. He refused to discuss the reasons for his departure but admitted there had been a clash of management styles with family member and company director, Andrew Donaghey. Barry was involved in one of several divisions within the Omega Group.
"While I have not signed a confidentiality agreement, my view is that it would be improper of me to disclose any information relative to Omega Technology, from which I have resigned as a manager," he said.
Omega has subsidiary sales offices in Sydney, Perth, Adelaide, Darwin, Hobart and Brisbane. The company started in 1985 as Omega Computer Industries, offering a range of IT hardware products including servers, components and peripherals.
In March, Omega merged with national PC assembler, Hallmark Computer International. Financial terms were not disclosed. Hallmark's flagship brands, Viewmaster and Portiva, were both retained.
While hesitant to comment on the state of play at Omega, Donaghey said there was still a place available for local whitebox builders provided they identified target markets, kept a national focus and developed brand recognition.
Repeated requests for comment from Andrew Donaghey had not been answered at the time of publication.