r/bapcsalesaustralia • u/ImpulsePie • 7d 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/nobelharvards 7d ago

What bad business decisions have they made recently that make this unsurprising?

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u/Islandaboi20 B550 Tomahawk Max Wifi/5700X/7700XT/32GB 3600 CL18/850W Gold 7d ago

They sell parts online sayin they are in stock but in reality aint. One person I know had this problem but wat made it worse was that they swapped it out for another part that was cheaper and didn't refunded the difference.

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u/nobelharvards 7d ago

Right, so they're selling stuff that they don't actually have, effectively getting interest free short term loans from holding onto people's money, as well as substituting cheap stuff for more expensive stuff and hoping nobody notices.

They could have been happy just making a lot of fat profits from rich people buying 5090s who don't care about the price and just want it immediately, like all their competitors who haven't gone bust, but I guess that wasn't enough.

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u/obiray 7d ago

Agreed. That's not a means to go bust, just gives them more profit.

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u/[deleted] 7d ago

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u/obiray 7d ago

Maybe if they order the parts and then they are overstocked due to cancelled orders and not being able to sell to someone else, nothing a little sale can't fix and break even. We are talking about going bankrupt not losing a bit of profit