check it out, anyone know anything abut it?
WOW Sight & Sound relaunching?
berger on 11/05/2012 - 15:14
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Gonna need to sharpen their pencil first ! HN prices normally
It's probably to sell all the cabling and shop fixtures they didn't sell while closing down.
And that video is REALLY bad. Did the liquidators say "Okay, you can make a promotional video but don't spend more than $20"?
Most likely someone purchased the domain name and decided to start up their own online store
Still registered to the original company.
Not sure I would trust them again. Lost the full value of some gift cards I received at Xmas when they went under.
Mother in law had ordered 13x new laptops for her workplace from WOW prior to them going under. The laptops were out of stock at the time and were then put on backorder after being paid for in advance. WOW went under and the laptops were lost as WOW liquidators were under no obligation to honour backorders, or offer a refund of any amount.
Liquidators didn't care about those of us that had to go through that type of grief. Why would they expect me to buy anything from them again after that?
Because the people selling the goods after everything is settled are no longer the liquidators?
If they are new owners, than they should change the name. Otherwise, expect to have people that were burnt (like myself) feel slightly tainted towards the store(s) on the onset.
If the deals are good and I can purchase them over a counter - no problem. If I have to order online with a company that closed down whilst retaining my funds - because they were under no obligation to give them back - then no. What's to stop them getting a thousand online orders and then saying 'Oh no, we are bankrupt again! - but thanks for your money!'.
Do you have a link that says it is under new ownership?
I'm not saying it's under new ownership.
I said the people who are selling the merchandise are no longer the liquidators.
When a company goes into receivership/liquidation, it means the company has appointed someone who is not affiliated with them to manage their operations for them, to recoup the most amount of equity possible in the most time efficient manner or adjust their business structure so that they will become profitable again. Once the liquidator's job is done (in which case it is since the sale is now over) they disappear earning a fat cheque for their efforts, whatever funds is left over is then paid to secured debt owners and last of all unsecured debt owners which are gift card holders. If they cannot meet all payouts and debts then the company becomes bankrupt and close, if they somehow managed to stay solvent then they can continue to trade.Yes you got burnt by the liquidators, but their actions IMO should not be reflective of the company, what the company should be upheld to is what caused them to go into liquidation in the first place. Now if that company is back on its feet in a new model of trading then I've got no problem doing business with them as long as the price is good and the items are in stock (I'd be weary of backorders, giftcards and whatnot though).
Once they have gone to liquidation they cannot continue to trade.
It is during administration that the business outcome is decided at a creditors meeting. At this meeting (not the first meeting) 3 outcomes are possible: Company handed back to directors, company is wound up (and assets are sold, creditors are paid out from the proceeds - after ripoff fees), or a Deed of Company Arrangement (DOCA) is agreed to based on the conditions put up by the directors and the directors can then trade on but must adhere to the conditions. The DOCA is often attractive as creditors will get more cents in the dollar under this arrangement. DOCA avoids any investigations of a liquidator.
I guess it all depends on how you were effected during liquidation.
Two types of people out there now:
1) Burnt - Why should I trust them?, they took my unsecured money to stay afloat. Thank you.
2) Not burnt - I wasn't effected, sure I will shop with them. They didn't turn my cash into nothing, why not!That's true. But I guess what I'm trying to get at is, treat it as a new store, or under new management, or the little guy that's just started up. Go for the cheap stuff and go for the more expensive stuff at other places. If you're gonna have a grudge against a store for every bad thing they did then you're either going to be paying rip off prices or you won't be doing any shopping at all. There's no point in holding a grudge.
I get ya, really I do.
It's not a grudge I have, it's more the need to make sure my money is spent on my own terms. I do alot of online ordering (hard not to in todays world…) and I take that risk each time I deal with a new company. Works out ok 98% of the time… the other 2% I choose to stay away from if it goes sour. What else can you do?
Again, if I could do new business at an actual retail store and the deal was good - no problems. Instant transaction and I walk out with my goods, no danger of any loss to me.
Trusting them to send me goods I pay for before getting my product? I have to take previous experiences into account.
Don't take my money, close down, open up again and then say 'We are ready for more of your money'. Compensate me for the loss first as way of apology and then we can talk.
I may be the minority, but no one cares about my hard earned cash more than I. So I'm the only one in a position to do anything about it.
As to rip off prices, there is enough competition out there for me to shop from. If anything, their prices had not been as competitive as they used to be. Not sure what happened, but JB seemed to beat them every time I compared identical products from about mid way through last year?
well, the day arrived, and its still launching. great way to start a business.
anyways, according to
http://www.current.com.au/2012/05/22/article/WOW-Sight--Soun…
Games, movies, consoles, and consumer goods in the near future.
Under different ownership, someone purchased the "Wow Sight & Sound" name, logo, website and jingle to start their own online store
Seems like an online only store. Hopefully similar to a Kogan for some competition :D