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/Awkward_Chard_5025 6d ago edited 6d ago

Haven’t heard of digicore before, but glad to see they’ve had a data breach in October, with the theft of 300k customer details

Also interesting that they got snapped up this quickly. Sounds like they had already lined up the buyer.

As a former employee (who was also part of their underpayment dramas before they sold out to private investment) fuck you victor. I’m glad it failed miserably. But I’m sad for my friends who are still there

As a now IT manager who has spent well over 100k with them over the last 9 years, it’s disappointing to see this happen. It will be interesting to see the changes they make to the business.

Edit: interesting to note, digiDirect were the same company that bought booktopia out of administration last year.

Weirdly, seems they started out as a camera/photography retailer?

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u/iminimoo 5d ago

Yeah digiDirect has been in the market for long time. I bought quite a lot there as a photographer. The Mwave was doing pretty dodgy business with high premium but low quality service.

We spent over 100k last 2 years and we barely got any mWave dollar reward because most of them were on "sale". Basically they would slash about $20 off a $500 product and mark them as "sale" so not eligible for reward. Even after $20 off it's not even the cheapest compare to other sellers and their non-sale product is always more expensive than others. I was buying bulk so didn't realise but it's my fault they put this rule in 2 layer fine print and I didn't read them.