Feeds

Oz channel takes another hit as receiver moves in on WOW

Weak sales, property debts take their toll

5 things you didn’t know about cloud backup

Another of Australia’s struggling bricks-and-mortar gadget retailers is in trouble, with the WOW Audio Visual Superstores chain put up for sale by receivers Ferrier Hodgson.

The company had expanded its original operation in Cairns, Queensland, to launch nine other stores in Queensland and five in other states (Albury and Coffs Harbour in NSW, Canberra, Shepparton in Victoria and Darwin in the Northern Territory).

While being read as another symptom of Australia’s weak retail environment, the company operating the business has had to deal with a $AU20 million debt from a property developer’s collapse. When property developer Aristocon went into administration in 2010, it owed $AU27 million to WOW.

WOW’s stores were built by Aristocon, and the two companies formerly shared board members.

It owes $AU26 million to unsecured creditors, which much of that owed to vendors and distributors, and has 500 staff. ®

5 things you didn’t know about cloud backup

More from The Register

next story
BBC: We're going to slip CODING into kids' TV
Pureed-carrot-in-ice cream C++ surprise
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Twitter: La la la, we have not heard of any NUDE JLaw, Upton SELFIES
If there are any on our site it is not our fault as we are not a PUBLISHER
Facebook, Google and Instagram 'worse than drugs' says Miley Cyrus
Italian boffins agree with popette's theory that haters are the real wrecking balls
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
Ex-IBM CEO John Akers dies at 79
An era disrupted by the advent of the PC
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?