Feeds

Oz channel takes another hit as receiver moves in on WOW

Weak sales, property debts take their toll

3 Big data security analytics techniques

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. ®

Combat fraud and increase customer satisfaction

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.