NCIX declares "Supreme Bankruptcy"

[Cannon Fodder]

Saw a post on HWC today, which included a pdf of NCIX's bankruptcy info..... they apparently owe almost $36,000,000!!! DAMN!!!

 

https://docs.wixstatic.com/ugd/2ff03f_c7fd76d183ba40668569eac31ff5f33d.pdf

[Lord Imperius]

On 07/12/2017 at 10:31 AM, Majinhoju said:

it looks like posting no longer works on their forums now.  

Yup, I was going to tell that poor East Cost guy who RMAed his PC to NCIX to try and get in touch with the bankruptcy trustee to see if they have inventoried it.

 

Seems like other have been able to post since yesterday, but I can not.

[Majinhoju]

Yeah, I still can't post.  Odd that a few others can.

 

I wish there was some statement from Steve Wu in all this.  I know I'll likely get my money back from my CC company but it feels like NCIX just ran off with my $1800.  I don't expect many bankruptcies to go smoothly but this is just shady and terrible smack in the face to all their loyal customers.  Whatever venture Steve Wu takes on next I will surely boycott.

[GoodBytes]

3 minutes ago, Majinhoju said:

Yeah, I still can't post.  Odd that a few others can.

 

I wish there was some statement from Steve Wu in all this.  I know I'll likely get my money back from my CC company but it feels like NCIX just ran off with my $1800.  I don't expect many bankruptcies to go smoothly but this is just shady and terrible smack in the face to all their loyal customers.  Whatever venture Steve Wu takes on next I will surely boycott.

Maybe they had to sell their Post button, to help pay their debts. 

[Nicnac]

wait did I miss glasses-luke and glasses-linus? what was going on there?

[rowlYy]

So, does anyone from Canada actually know what "Supreme Bankruptcy" is? Is it a bankruptcy proceeding through the supreme court or what?

 

[Lord Imperius]

"Supreme Bankruptcy" isn't a thing, but yes the bankruptcy was filled in the BC Supreme Court.

[rowlYy]

1 minute ago, Lord Imperius said:

"Supreme Bankruptcy" isn't a thing, but yes the bankruptcy was filled in the BC Supreme Court.

cheers

 

[asus killer]

is it just me that see a trend in here: "so sad to see them go" and "i prefer to shop online". I guess you can't have both.

 

In my country we have no big physical store retailers for PC components, not one, but have a couple of small retailers, no more than 2/3 small physical stores (and i mean small as in real small, it's basically 2/3 dudes at most on a very small counter with a closed warehouse in the back) for the all country and a good presence online. Usually they sell cheaper than amazon and they sell like crazy.

 

I would prefer to physically see the boxes in a large retail and stuff, but i guess that doesn't work. I still prefer to shop locally than trough Amazon or any gigantic retailer, and if i can i prefer to go to the store to pick up the stuff by myself, i do not trust the delivery guys to handle stuff, they just don't care.

 

[Cannon Fodder]

15 hours ago, asus killer said:

is it just me that see a trend in here: "so sad to see them go" and "i prefer to shop online". I guess you can't have both.

 

In my country we have no big physical store retailers for PC components, not one, but have a couple of small retailers, no more than 2/3 small physical stores (and i mean small as in real small, it's basically 2/3 dudes at most on a very small counter with a closed warehouse in the back) for the all country and a good presence online. Usually they sell cheaper than amazon and they sell like crazy.

 

I would prefer to physically see the boxes in a large retail and stuff, but i guess that doesn't work. I still prefer to shop locally than trough Amazon or any gigantic retailer, and if i can i prefer to go to the store to pick up the stuff by myself, i do not trust the delivery guys to handle stuff, they just don't care.

 

Just out of curiosity, what country are you in?

 

As for your last paragraph, I agree with that - that's one of the reasons I liked buying from NCIX, i.e. I could easily pricematch & order online, but pick up the items myself, in one of their retail locations(since a couple of them were reasonably close), and avoid the inevitable gorilla-like package handling of the courier(s). While I never really wandered around one of their stores to shop, it was a good thing that if you wanted to, you could..... that, and it's always better to check out some things in person, such as cases & keyboards.

[Zodiark1593]

After reading some of this thread, I really feel like playing a game of Monopoly.

[asus killer]

6 hours ago, Cannon Fodder said:

Just out of curiosity, what country are you in?

 

As for your last paragraph, I agree with that - that's one of the reasons I liked buying from NCIX, i.e. I could easily pricematch & order online, but pick up the items myself, in one of their retail locations(since a couple of them were reasonably close), and avoid the inevitable gorilla-like package handling of the courier(s). While I never really wandered around one of their stores to shop, it was a good thing that if you wanted to, you could..... that, and it's always better to check out some things in person, such as cases & keyboards.

portugal

[dragoon20005]

a big what if.

 

Given Linus capability

 

do you guys think Linus may be able to buy over NCIX during the liquidation process?

[asus killer]

2 hours ago, dragoon20005 said:

a big what if.

 

Given Linus capability

 

do you guys think Linus may be able to buy over NCIX during the liquidation process?

see the last wan show we already replied to that. Short answer: no

[Arika]

2 hours ago, dragoon20005 said:

a big what if.

 

Given Linus capability

 

do you guys think Linus may be able to buy over NCIX during the liquidation process?

no and there would be no reason to. LMG would get exactly 0 benefit out of it

[GoodBytes]

If Linus buys them, they'll need to pay the ~36 million in debt to start with. On top of that, he will have a huge challenge in convincing manufactures that their store are now trustworthy is managing itself and paying to get good rates on products. And this is more than just talk, this is actually delivering.. so at first they won't get good pricing.. and they need to magically sell those...would you buy a heat-sink that is 50$ on Newegg, but 70$ on NCIX? I don't think so. Sure, you might go "I support you!", but that is just you and a few others, which isn't enough. Then you need to money to update the website, then you need money for lawyers to deals with the store closures as those makes no sense, and then update their warehouse system (more millions), and that is just what we know... it is a private company.. so we don't need the many other surprises that the company hides.

[asus killer]

3 hours ago, GoodBytes said:

If Linus buys them, they'll need to pay the ~3.6 million in debt to start with. On top of that, he will have a huge challenge in convincing manufactures that their store are now trustworthy is managing itself and paying to get good rates on products. And this is more than just talk, this is actually delivering.. so at first they won't get good pricing.. and they need to magically sell those...would you buy a heat-sink that is 50$ on Newegg, but 70$ on NCIX? I don't think so. Sure, you might go "I support you!", but that is just you and a few others, which isn't enough. Then you need to money to update the website, then you need money for lawyers to deals with the store closures as those makes no sense, and then update their warehouse system (more millions), and that is just what we know... it is a private company.. so we don't need the many other surprises that the company hides.

shit will be sold on the cheap, i doubt anyone will buy it. Just buy the brand (only the brand) to whomever will be liquidating the corporation, open a couple of small stores on major cities with the least employed possible, a counter and a closed warehouse behind that serves clients, RMA and hubs for shipping. Make a website and sell worldwide (at least to US). Use the LTT to promote and shit. See money roll in. Done.

 

send me a gaming rig for the idea. PM'me for the adress 

[Cannon Fodder]

4 hours ago, GoodBytes said:

If Linus buys them, they'll need to pay the ~3.6 million in debt to start with.

Uhm.... that's ~36 not 3.6 million.

[GoodBytes]

3 minutes ago, Cannon Fodder said:

Uhm.... that's ~36 not 3.6 million.

Thanks!

[Cannon Fodder]

Besides, even though Linus may be doing pretty well, I kinda doubt he has millions to go throwing around at something like this, nor would he likely want to....

[dalekphalm]

7 hours ago, dragoon20005 said:

a big what if.

 

Given Linus capability

 

do you guys think Linus may be able to buy over NCIX during the liquidation process?

Linus doesn't have $36m to cover the debt NCIX owes, let alone enough to buy the brand/assets, etc.

 

It would be pointless for him to buy it, as it would not cleanly interface with LMG. He could buy it as an investment, but he would either need to quit day to day operations at LMG to manage the NCIX brand, or hire a ton of people to do it for him.

 

Either way, huge investment of time and money that I don't think he has.

[Guest]

On 12/9/2017 at 3:58 PM, GoodBytes said:

Maybe they had to sell their Post button, to help pay their debts. 

i think the young-ones on the forum call this a SAVAGE post. Me gusta. >:-)

[Majinhoju]

Does the owner live local to Vancouver?  I'd like to hear it from him in person what he's doing with my $1800.

[Cannon Fodder]

1 hour ago, Majinhoju said:

Does the owner live local to Vancouver?  I'd like to hear it from him in person what he's doing with my $1800.

Yes, if you look through the pdf I linked to, in my 1st post on page 5, you'll see an address for him. As for your $1800, as has been mentioned many times, if you paid via credit card, do a chargeback with your CC company.

[Majinhoju]

I've already started the chargeback process already (called the bank on the 1st).  Just takes time i suppose and I imagine I'll get my credit.   I'm just curious where Steve is in all this.  Has he made any statements or apologies during all this? This just seems so shady.