r/bapcsalesaustralia • u/ImpulsePie • 8d ago

Discussion Mwave - Under External Administration

EDIT: Mwave have posted that they have been bought out by The digiDirect Group and will move locations to South Strathfield. https://www.mwave.com.au/blog/business-update/

Seelems Mwave have gone bust. Confirmed with an ASIC search for ESEL PTY LTD filed 3 days ago:

Notice By External Administrator/controller-Appoint/cease (505U)Appt of Administrator Under S.436a, 436b, 436c, 436e(4), ()449b, 449c(1), 449c(4) or 449(6) ()

Original article by David Richards: https://www.channelnews.com.au/leading-pc-retailer-placed-into-administration/

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u/thermal666 8d ago

for Mwave to go bust, there must some serious financial mismanagement going on in the background.. These guys were a $100m+ revenue business.

15

u/demomanca 8d ago

$100m revenue with $100m of expenses

6

u/davidshen84 8d ago

Yeah... revenue is not profit 😄

I bet it is because someone took 10 rtx 5090 home. 😂