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OCAU News |
Edge Technology go pop!
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Thursday, 22-June-2000 19:35:34 (GMT +10) - by Agg
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Ahh, I knew there was something I meant to post last night - thanks to those who reminded me.
Edge Technology have gone bust, according to this article on ZDNet.au. This to me is not too surprising - my experience with Edge over the last 7 years has not been great. Edge were a wholesaler and distributor - they sell to the shops Normal People buy from. Years ago when I was doing support and selling PC's from home, Edge pretty much epitomised the "Dodgy Asian Computer Dealer" ideal and I had a recent dealing with them that led me to think little had changed.
Now, I'm not saying all dodgy computer shops are run by Asians, or that all computer shops run by Asians are dodgy - not at all. However, there is certainly a culture of fly-by-night suspiciously-cheap computer vendors in Sydney, and many of them have direct connections back to Asia. There's also a big culture of dodgy Iranian computer dealers in Sydney - probably other cultures too. My main point is nothing to do with race, just that Edge were, a few years ago in my observations at least, one of the major suppliers of a swathe of fairly shonky shops. That said, businesses must of course sell their products to whever will buy them. Whether or not Edge themselves were shonky is a matter for the auditors now.. however, let me quote:
According to the receiver, Armstrong Wiley and Co., Edge's debts total somewhere around AU$40 million, while its assets are estimated at AU$4.5 million.
..and, more pointedly..
According to one of the major creditors at the meeting, the current whereabouts of the founder and director Johnson Wang is unknown to the receiver.
It is likely that the receiver will review some recent transactions to ensure that the company was not trading whilst insolvent. One such transaction, which was brought to light at the creditors' meeting was described as "a non-standard transfer of inventory to Edge New Zealand".
I just hope that none of the genuine businesses that stick around for a few years, comply with the tax laws and uphold their warranty statements were burned by this..
RUMOUR ALERT: This is completely unconfirmed and I won't name my source, but their old stock may be being auctioned by Pickles in Newcastle, with talk of KT133 boards going for $30.00..?! Could be completely wrong though.
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