WOW Sight and Sound Going to Liquidation, Administrator Appointed

scotty on 27/02/2012 - 16:52

Saw it on the Sydney Morning Herald just then: http://www.smh.com.au/business/500-jobs-in-peril-as-retailer…

The slump in retail spending has claimed another victim, with Queensland-based WOW Audio Visual Superstores placed in liquidation after administrators were appointed.

So

  • Administrator is seeking for a possible sale of the business.
  • Caused by the change of scope of retail in Australia, which results revenue slump.

WOW actually has some pretty good deals so far this year. If the stores do go down, maybe we'll see some liquidation sale soon?

General Discussion

Related Stores

WOW Sight & Sound
WOW Sight & Sound

Comments

  • c64 on 27/02/2012 - 17:51

    gerry's going to pick up some new stores

  • [Deactivated] on 27/02/2012 - 18:06
    +1

    Anything that reduces competition is a pity, but while some of their catalogue prices were competitive at given points in time - if only relative to other catalogue prices - they stopped negotiating a percentage for cash. For me, they then became a place to mainly window-shop.

  • c64 on 27/02/2012 - 18:11
    +3

    He added that while lay-bys would be honoured, gift cards could not be because of the business's financial predicament.

    an example of why gift cards are not better than money

    • abacus on 27/02/2012 - 19:14

      and because they expire.

      • Postulative on 28/02/2012 - 10:44

        Except that some US states have decided that stores must account for every cent of their gift cards, and cannot just "pocket the change" or let it expire without paying money back. Basically, I think some shops saw gift cards as their most profitable line - give us your cash and then forget about it.

  • Geewhizz on 28/02/2012 - 06:33
    +1

    In my limited experience their service was appalling - not a good customer retention model.

    Example, had a query about a product in their catalogue, so called the nearest store around 10am. Phone rang out. Likewise the second and third stores I called. And the person I spoke to at the fourth store was not in the slightest bit interested, would clearly have preferred to be somewhere else.

  • auna on 02/03/2012 - 21:46

    http://www.1wow.com.au/GiftcardFAQs.pdf

    Interesting stuff…

  • uneekwahn on 03/03/2012 - 21:11
    +1

    I've always thought to myself in a situation like this I would just take my useless giftcards to the store, collect goods to the value of said giftcards and put them on the counter and then walk out of the store.

    • The Vat on 07/03/2012 - 17:31
      +5

      Let us know how that goes.

  • snappy1234 on 04/03/2012 - 10:21

    The LAW that allows this is in need of an overhaul… Agree they are creating FRAUD doing it any other way(not strictly hehe)

  • JepunK on 07/03/2012 - 16:34
    +3

    WOW…what a mess…

  • OnlyFans on 07/03/2012 - 16:50

    http://www.abc.net.au/news/2012-03-07/wow-stores-close-their…

    Hope they have stuff for super cheap prices.

  • The Vat on 07/03/2012 - 17:32

    Looks like my old PS3 has died again, so time to see if I can snag a cheap one.

    Sad story this one - looks like a few property deals went sour for the directors…

  • morpheu on 07/03/2012 - 20:55

    i wouldn't hold my breath for 50% off sales! most i can guess is 20-30% off new stock(excl demo/floor stock), you could haggle similar discounts to that or do pricematching if your haggling skills aren't the best

  • beejay1177 on 07/03/2012 - 21:25

    Just saw an ad on TV stating that from tomorrow it will be up to 30% off on all stock.

  • stanas on 07/03/2012 - 21:59

    up to 30% off on all stock

    Hmmm…i will pass on that info.

  • UFO on 07/03/2012 - 22:07

    Yep, got a mate who works there.

    Up to 30% off store wide, and doors will be closing in 6 weeks. But dont be jumping too quick on some items, because as the time gets closer and closer apparently the deals will get better and better.

  • BillyG687 on 07/03/2012 - 23:06

    That's pretty disappointing having only up to 30% off for an ozbargainer!

    • jakentta on 08/03/2012 - 08:29

      Well, if that really applies to all of their stuff, it should be pretty good for Apple products. They sell them too and I have never seen that good a discount on them. But for brands like Logitech, -30% probably still leaves them more expensive than the best of the competition.

      • BillyG687 on 08/03/2012 - 10:58
        +2

        Just got back and the sales were shit. 5% off iPads, Ultrabooks etc. 10% of cameras which brings the prices still more expensive than JB HiFi etc. PLUS! Next to no staff so you couldn't even get any help purchasing something anyway. Oh and they won't bargain.

        • gggggggg on 08/03/2012 - 11:13

          Anything off TVs?

        • morpheu on 08/03/2012 - 12:42

          crappy discounts as usual! even Dick Smith is doing 10% off Apple!

  • nowlan on 08/03/2012 - 12:47
    +2

    If it ain't half off, it ain't on sale. -fran fine.

  • j5ive on 08/03/2012 - 15:42

    5% off TVS, only 30% things I saw were phone cases and antennas.

  • Postulative on 09/03/2012 - 12:33

    Sounds like the sales are pretty rubbish… http://www.brisbanetimes.com.au/business/wow-bargain-hunters….

  • stanas on 15/03/2012 - 09:28

    I saw in todays paper that they are now selling things up to 40% off. Still not enough to entice me with that up to nonsense.

    • Postulative on 16/03/2012 - 09:02
      +1

      Yeah, I want to know when they get serious about liquidating.

  • berger on 16/03/2012 - 13:37

    Can anyone update us if there specials are getting better yet??

  • UFO on 17/03/2012 - 01:53

    Give them another week or 2.
    When a company goes into liquidation, the LAST thing they want is stock still sitting on the floor.
    40% off iPhone cases and other crap isn't going to cut it.

    For instance their "reduced" price on 2TB WD Desktop hard drives is still $139.
    These things are on sale every now and again for $95 elsewhere.

    Hold on a little longer folks…. things will get cheap soon.

  • SirFlibbled on 19/03/2012 - 16:03

    It'll probably go up 10% every week. If the sell out lasts 6 weeks, the last week will be 90% off (and I shall go Bluray hunting)

  • atrix on 29/03/2012 - 17:28

    went to wow today,

    50% off any discs, (dvd,games, music, bluray etc)
    25% laptops
    50% off computer accesories (webcams, hubs, cable, chargers)
    20% off tv
    20% off phones
    15% off tablets
    20% off batteries
    30% headphones

    there the discounts i could remember

  • nubzy on 29/03/2012 - 18:58

    sounds like a sale that JB would have to me, not so much a clearance sale..

  • berger on 05/04/2012 - 15:10

    Now hit min 25%-70%, with 25% off tv's, 30% laptops

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