GMC goes into receivership

[ftje]

Hi All,

I just came across this story on "the age" website.

http://business.theage.com.au/busine...1201-6ocj.html

cheers

joe

[Ron Dunn]

Very sad news.

Even if you didn't like their tools, just having them around helped to lower prices from their competitors.

That said, I'm not surprised to hear this news. You can't survive in a tough market when you have terrible relations with your retailers and end-users.

[ftje]

true.. from what i understand "receivership" doesnt mean the company will fold. It just means it cant keep runninghow it is so the business will be sold..

I think there will be a few triton owners that will be very sad to hear the news though.

Ozito is an aussie compay as well.. i wonder if they will follwo suit?

[Ron Dunn]

I think the only thing that would save Triton is if George Lewin (sp?) bought it back.

[Waldo]

I'm not surprised given:

a. the amount of people returning stock in the 30 day period once they've finished with them, that would've cost a motza, and;

b. the sponsorship $ that went into Bathurst and the V8s, that also cost a huge bundle and for what return? I know and understand it's about brand presence, and c;

c. while some GMC stuff is okay I'm sure a lot of stuff packed it in and people upgraded to better gear.

Now flame me.

[rod1949]

I've had a good run with their gear. I've also had some failures under warranty. When the replacement was delivered the old unit wasn't taken away that was for someone else to do which I thought was rediculous.

[ftje]

unfortunately, in business these days, every efficiency has to be leveraged.. it looks like GMC didnt do that

[Big Shed]

Obviously Bunnings saw this coming and looked for another supplier, which in turn made it inevitable.

All the signs of a business on a downward slide were there for quite a while, hopefully Triton especially will be revived by a new owner, I can see triton being sold off separately.

[Waldo]

and you need to see ROI.

[ftje]

maybe we should all pitch in a buy the triton brand?

[Waldo]

Watch out for another round of bargains at Bunnies. Bayswater only has a demo 2400W router TRS001 (whatever it's model number is )so someone might be able to haggle the price down?

[Eagle]

I havent seen any of you guys at GMC....do you work for KordaMentha?? you all have information and I assume you know whats going on because you work for someone attached to the business.....

or is it you are all just assuming..............

[silentC]

It was in the newspaper!!

[Ron Dunn]

*lol* ... good old Eagle ... spinning to the very end.

Look on the front page of http://www.theage.com.au

[Waldo]

I havent seen any of you guys at GMC....do you work for KordaMentha?? you all have information and I assume you know whats going on because you work for someone attached to the business.....

or is it you are all just assuming..............

Look at my signature.