As we feared likely, the Watford Electronics group has hit a financial brick wall. The company - owner of the savastore web site and various well-known PC brands (Aries, Carrera, Demonite, Time, Tiny) - announced late this afternoon that it has been sold.
The buyer is Globally Ltd, a company about which we know only one thing - that it has its registered offices at the same address as Watford Electronics and savastore.
In the past, that sort of anomaly with other changes of company ownership has sometimes mean that a number of people behind the defunct company were also at the helm of the new - a situation that may have been perfectly legal but still left us feeling queasy.
However, we have no idea whether or not the main men behind Watford also own Globally because, despite our calls and emails to them since February 1, neither the managing director nor the financial director thought it appropriate to get back to us.
Despite the fact that a note posted on the front page of savastore.com looks to promise some good news for customers, we also haven't a clue whether people who've ordered goods from savastore will ever receive them or how well Globally will honour the warrantees of products sold by savastore or other Watford Electronics' companies.
Further, we still have no idea as yet what the situation will be with Redten - the Watford-associated Redten internet service provider.
That company's web site looks to be running normally (as indeed, of course, was the savastore site before 3.30pm today) so we can only hope that the other parties involved with that ISP are going to keep on keeping on.
The notice below appeared on savastore's site this afternoon.
Statement that appeared on savastore's site this afternoon
(click for larger version or read the text of the statement below)
This is what the statement says:
Dear Savastore Customer,
At 3.30pm, February 7th 2007, Globally Ltd purchased the business of Watford Electronics Ltd.
As a result of this purchase, Savastore.com is temporarily closed for business. The site will reopen as soon as possible following a full review of both business and technological processes.
It is Globally Ltd’s intention to invest heavily in the underlying technology behind Savastore.com, and to provide a platform that will enable it to resume and expand upon Watford Electronics’ existing business.
Wherever possible Globally Ltd will assist and support all existing Savastore.com customers whose goods are not already covered by a manufacturer’s warranty.
Globally Ltd will endeavour to fulfil all unshipped Savastore.com orders. In line with Watford Electronics’ existing policy, Globally Ltd will not charge Savastore.com customers until orders have been despatched.
Globally Ltd would like to apologise for any inconvenience caused by the temporary closure of Savastore.com.
Yours sincerely,
Globally Ltd
Information relating to warranty and returns procedures for existing Savastore.com customers whose products are not covered by a manufacturer’s warranty will be provided within the next 48 hours.
At 3.30pm, February 7th 2007, Globally Ltd purchased the business of Watford Electronics Ltd.
As a result of this purchase, Savastore.com is temporarily closed for business. The site will reopen as soon as possible following a full review of both business and technological processes.
It is Globally Ltd’s intention to invest heavily in the underlying technology behind Savastore.com, and to provide a platform that will enable it to resume and expand upon Watford Electronics’ existing business.
Wherever possible Globally Ltd will assist and support all existing Savastore.com customers whose goods are not already covered by a manufacturer’s warranty.
Globally Ltd will endeavour to fulfil all unshipped Savastore.com orders. In line with Watford Electronics’ existing policy, Globally Ltd will not charge Savastore.com customers until orders have been despatched.
Globally Ltd would like to apologise for any inconvenience caused by the temporary closure of Savastore.com.
Yours sincerely,
Globally Ltd
Information relating to warranty and returns procedures for existing Savastore.com customers whose products are not covered by a manufacturer’s warranty will be provided within the next 48 hours.
Thoughts? Share them with us in the HEXUS.community.
HEXUS.links
HEXUS.community :: discussion thread about this articleHEXUS.lifestyle.headlines :: Savastore owner Watford Electronics in financial crisis?
HEXUS.hardlines :: Time and Tiny Stores Close
HEXUS.press.releases :: Watford Electronics Ltd acquires Carrera and Demonite brands
External.links
savastore - home pageRedten Internet - home page
