Quick! Buy e-Store!
- 25 March, 2003 12:51
Perth-based e-tailer, BuyQuick, has taken over the fulfilment and logistics of North Sydney-based computer e-tailer and retailer, e-Store, and is also mooted as the most likely buyer of the company.
BuyQuick co-CEO, Andreas Adamides, said that his company had been fulfilling orders on behalf of e-Store since March 14 but declined to comment on plans to buy the company.
Chief executive officer of e-Store Gerard Farley, said that he was forwarding all e-Store orders to BuyQuick until a “transaction is complete".
Farley said e-Store was not officially for sale, but it had been inundated with a range of offers from prospective buyers in recent months. He had struggled to meet the debt repayment commitments forced upon the e-tailer since he purchased the business under a deed of company arrangement.
The business was formerly owned and managed by Steve Spilly, but was placed in administration in 2001 owing more than $2.5 million to creditors such as distributor Tech Pacific.
Farley counts Harris Technology (part of the Coles Myer group) and Woolworths among the parties that have approached him suggesting a merger or acquisition of e-Store.
For more on e-Store, see this week's issue of ARN.