Shopping Discussion

PSA: All NCIX stores in Ontario closing. Update: NCIX has filed for bankruptcy

  • Last Updated:
  • Sep 21st, 2018 10:27 am
Newbie
Aug 5, 2005
53 posts
14 upvotes
I always found there items to be used in new packages . When ever I bought something from them, it never seem to last long . I bought a few hard drives and both didn't even last over 2 years . I stop buying from them years ago
Newbie
Aug 5, 2005
53 posts
14 upvotes
Another Tiger direct ... they wouldn't last long unless they stay small market
Newbie
Mar 3, 2012
82 posts
12 upvotes
Montreal, QC
burnt69 wrote:
Dec 5th, 2017 4:56 pm
I don't think you understand what a bankruptcy filing means. Air Canada went bankrupt in 2003. Did they even miss so much as a flight? Nope. It was a tool by which management was able to restructure their contracts, terminate leases which were extremely out of whack with present business requirements, and carry on with claims of past creditors settled.

NCIX is a highly reputed and respected brand in Canadian mail order online computer retailing. The online retail part of NCIX is most likely completely and perfectly viable as a going concern. The retail, like most brick and mortar electronics retail, is probably not.
In 2017, in Canada (it's different in US), if you go bankrupt = that's finish, company is dead. You can work while you're finish to work (and, factually, it's operate by the trustee), that's all. Of course, company may make bankrupt, but a new company continues activity, so customers don't really see nothing (like many restaurants).

When you read that company is under the "Bankruptcy and Insolvency Act", you need more information, cause it can mean :
* A bankruptcy
or
* A proposal
or
* Offer a Companies’ Creditors Arrangement Act (CCAA)

For the first, as I said, company is dead (or going to be, like Sears).
For Proposal & CCAA = if accepted by creditors, company can still work (if not, for proposal = bankrupcy, it's more complex about CCAA)

I don't know if, in BC, the classification of file under "Supreme bakruptcy" really means is a bankruptcy, or it's to grant permission to the court about a proposal or something.

(Sorry for my english, I could mispell some words, but I guess it's clear.)
Deal Addict
Oct 6, 2015
1303 posts
684 upvotes
papycgf wrote:
Dec 5th, 2017 6:58 pm
In 2017, in Canada (it's different in US), if you go bankrupt = that's finish, company is dead.
Unless you've read the filing, I don't think you can legitimately make that claim. The business could also be sold by the bankruptcy trustee to a buyer, such as the current majority shareholder, subject to agreement by the creditors. There is no absolute requirement under the BIA to liquidate or to cease a business upon a filing.

I am only saying this in the interest of truth. Unless you've read the filing and have knowledge of the negotiations underway with creditors/debtors-in-possession/etc., it is impossible to assert to the contrary.
Newbie
Mar 3, 2012
82 posts
12 upvotes
Montreal, QC
Unless you've read the filing, I don't think you can legitimately make that claim.
I wrote I don't know what is happening with Ncix. But the sentence you're quote is still true.
Unless you've read the filing, I don't think you can legitimately make that claim. The business could also be sold by the bankruptcy trustee to a buyer, such as the current majority shareholder, subject to agreement by the creditors.
The "company" can't be sold by the trustee, ony assets, including brandname. Company-shares belong to shareholders.
To be exact, a company can cancelled a bankruptcy :.
* If someone wants to pay ALL debt (all-all-all), AND a judge allow it
* If the company make a proposal (you can, even if the company already make a bankrupcty), wich, IF ACCEPTED, cancelled the bankrupt. (not so frequent..)
There is no absolute requirement under the BIA to liquidate or to cease a business upon a filing.
That's true, but of course not any trustee wants to keep a bankrupt company in business : it's not a job to a trustee to manage a company.
I am only saying this in the interest of truth. Unless you've read the filing and have knowledge of the negotiations underway with creditors/debtors-in-possession/etc., it is impossible to assert to the contrary.
I'm agree - even if we don't really need to read the filling, just to know what kind of insolvency is (Bankrupt, proposal or CCAA).
Deal Addict
User avatar
Mar 31, 2017
3239 posts
1167 upvotes
burnt69 wrote:
Dec 5th, 2017 4:56 pm
I don't think you understand what a bankruptcy filing means. Air Canada went bankrupt in 2003. Did they even miss so much as a flight? Nope. It was a tool by which management was able to restructure their contracts, terminate leases which were extremely out of whack with present business requirements, and carry on with claims of past creditors settled.

NCIX is a highly reputed and respected brand in Canadian mail order online computer retailing. The online retail part of NCIX is most likely completely and perfectly viable as a going concern. The retail, like most brick and mortar electronics retail, is probably not.
Everyone was laid off, including the ones at headquarters, so whatever Mr. Wu plans to do, wont involve as many employees, or likely even the same ones.
Sr. Member
Jan 12, 2017
728 posts
461 upvotes
Maple Ridge
Memory Express just announced upcoming Barnaby store.
Battle for BC is getting fierce
Penalty Box
User avatar
Jul 17, 2008
8415 posts
1824 upvotes
So any opinion on what to dump the reward points? I have 11k. Was thinking either the car holder and the car USB charger, or get the 10k or 8k power bank, both seem to be the same points, then go for the USB-C cable.

Of course, this assuming they will ship anything. I have a feeling paying customers ain't getting anything so probably I won't either, but might as well try
Deal Guru
Jul 19, 2012
12857 posts
3252 upvotes
Montreal
burnt69 wrote:
Dec 5th, 2017 4:56 pm
I don't think you understand what a bankruptcy filing means.
No, you clearly don't understand the situation NCIX is in and comparing it to a company pulling a business scam to get gov't handouts or to squeeze out of leases proves it.

NCIX is dead, they have terminated all their employees (except for one guy processing orders/refunds and deleting comments on the forums), they owe tens of millions to suppliers, and these suppliers have all cut them off from products so they have ZERO inventory except the garbage they dredge up from the warehouse. They are D-E-A-D.
Deal Guru
Jul 19, 2012
12857 posts
3252 upvotes
Montreal
badOne wrote:
Dec 5th, 2017 9:44 pm
Everyone was laid off, including the ones at headquarters, so whatever Mr. Wu plans to do, wont involve as many employees, or likely even the same ones.
There is a slight chance he tries to enter the market under a rebranded name, but it won't be NCIX and it won't be anytime soon.
Deal Addict
User avatar
Sep 19, 2002
2513 posts
1065 upvotes
Vancouver
burnt69 wrote:
Dec 5th, 2017 4:56 pm
NCIX is a highly reputed and respected brand in Canadian mail order online computer retailing. The online retail part of NCIX is most likely completely and perfectly viable as a going concern. The retail, like most brick and mortar electronics retail, is probably not.
burnt69 wrote:
Dec 5th, 2017 5:51 pm
NCIX moves an incredible amount of product as one of the largest online computer parts retailers in Canada, and has sold tens of millions of dollars worth of Intel products in its 20 years of existence. Much easier to write off a late invoice if a company ultimately files for bankruptcy, then to permanently lose that sales channel.
NCIX has no brand equity. It's a whitebox reseller with no value added services.

What's the difference between a CPU sold by Memory Express and NCIX? Nothing. The typical computer buyer in Ontario, Quebec, and Alberta has no idea what NCIX is. I think you're overestimating the value of the name.

Any void in the sales channel is quickly being filled by Canada Computers, Mike's Computer, and Memory Express.
Deal Addict
Oct 6, 2015
1303 posts
684 upvotes
JackWhyte wrote:
Dec 5th, 2017 10:12 pm
No, you clearly don't understand the situation NCIX is in and comparing it to a company pulling a business scam to get gov't handouts or to squeeze out of leases proves it.
I'm unaware of any statements, from the trustee, from others, etc., that NCIX is no longer a going concern insofar as mail order is concerned. Looking on Reddit, there are statements by people apparently knowledgeable about the matter that orders are continuing to be taken, shipments are continuing to ship, and certain senior staff remain with the company.

It is dangerous to just blindly assume that because the company entered into a bankruptcy filing, that they will shut down. There are reasons why they might need bankruptcy as a tool to deal with terminating their unsuccessful brick and mortar retail operations.
NCIX is dead, they have terminated all their employees (except for one guy processing orders/refunds and deleting comments on the forums),
That's not true according to comments on Reddit.
they owe tens of millions to suppliers, and these suppliers have all cut them off from products so they have ZERO inventory except the garbage they dredge up from the warehouse. They are D-E-A-D.
Are you stating these statements as facts? Did you spend the $6 to read the filing? Do you understand that a company like NCIX may not even have owned much of their inventory, as is common in the tech industry?
Deal Addict
Oct 6, 2015
1303 posts
684 upvotes
Spinner wrote:
Dec 5th, 2017 10:18 pm
NCIX has no brand equity. It's a whitebox reseller with no value added services.
NCIX is a "go-to" name for Canadians when they purchase computer parts online or through mail order. I doubt there is a more recognizable company in Canada in that business. They are almost certainly one of the single largest customers of most of the major computer component manufacturers in Canada. They have receive extensive marketing support along those lines.
What's the difference between a CPU sold by Memory Express and NCIX? Nothing. The typical computer buyer in Ontario, Quebec, and Alberta has no idea what NCIX is. I think you're overestimating the value of the name.
They have extensive accounts with organizations across the nation that purchase equipment, and widespread brand recognition. NCIX was basically the benchmark against which every other company in the mail order computer parts business in Canada was benchmarked. There was just a recent court case where the Federal government purchased hundreds of thousands worth of components from NCIX and/or affiliates. The brand name is valuable and respected.
Any void in the sales channel is quickly being filled by Canada Computers, Mike's Computer, and Memory Express.
According to posts on Reddit, NCIX continues to accept orders and serve their customers. Spreading information which is false, or at the very least, not verifiable could be injurious to the company's reputation even if they have made an assignment in bankruptcy or filed some other sort of restructuring proposal.
Deal Guru
Jul 19, 2012
12857 posts
3252 upvotes
Montreal
burnt69 wrote:
Dec 5th, 2017 10:22 pm
That's not true according to comments on Reddit.
Sorry to burst your bubble, but the front line guys are all gone except one, and that is straight from employees who got canned. Greg, a popular CSR at NCIX just got let go and that left just one guy according to NCIX employees. There may be some of Wu's relatives still hiding in the executive suites, but that's worth about 2 dead flies.

But we'll give it time and see who's right or wrong here and hopefully you can be man enough to admit you're wrong. If NCIX somehow rises from the ashes to become a viable company under the NCIX banner, I'll do the same.

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