Shopping Discussion

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

  • Last Updated:
  • Sep 21st, 2018 10:27 am
Deal Addict
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Mar 31, 2017
3240 posts
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makuribu wrote:
Dec 6th, 2017 12:40 pm
Their web site still looks normal this morning.
I think I will shop elsewhere!
You should. But burnt69 should place an order for $200+, and show the proof here, since he's convinced the company isn't gone. Let's see if his wallet can write a cheque for his ego.
Deal Expert
Aug 2, 2004
28809 posts
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East Gwillimbury
badOne wrote:
Dec 6th, 2017 1:27 pm
You should. But burnt69 should place an order for $200+, and show the proof here, since he's convinced the company isn't gone. Let's see if his wallet can write a cheque for his ego.
Don’t worry. He will get his order. Inventory is on consignment. They only pay for it after it is sold.
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Aug 20, 2004
5047 posts
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Montreal, QC, Canada
I'm just learning about this. Are their gift cards still working online? What about points/rewards? Or converting points to purchase items off their rewards page?
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Jr. Member
Aug 28, 2017
198 posts
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JackWhyte wrote:
Dec 5th, 2017 10:12 pm

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.
Over 35 million dollars
Jr. Member
Aug 28, 2017
198 posts
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dattroll123 wrote:
Dec 6th, 2017 8:39 pm
over 35m in debt. Please don't order anything from them. Your points are also as good as dead.
Number may be higher as this filing doesn't mention the currency and some of these are US vendors and accounts.
Newbie
Nov 11, 2016
40 posts
14 upvotes
Toronto
I made an order in early November and have yet to get the item. I can't seem to cancel it through NCIX. Does anyone have any experience in this situation? Should I make a dispute with my CC company?
Jr. Member
Aug 28, 2017
198 posts
43 upvotes
Highlights below for those who don't want to run through the pdf. The actual amounts may not all be in CAD.

Banks/credit cards - A surprising amount of this is credit card debt. NCIX spent the last few months running up credit cards to pay for customer orders until they were tapped out.
  • American Express - $4,536,211.66
  • Bank of Nova Scotia - $3,746,750.00
  • Bank of Montreal - $18,340.31
  • CIBC - $354,057.83
  • RBC - $132,501.28

Distributors:
  • ASI - $2,790,992.61
  • D&H - $54,625.70 (Officially wins award as smartest of the Canadian distributors)
  • Ingram Micro - $3,699,861.76
  • Synnex - $7,524,536.40
  • Tech Data - $660,913.47
  • Tenva (Avnet) - $969,429.10

Vendors duped by consignment
  • Be Quiet - $57,414.95
  • EVGA - $369,332.35
  • Pulselabz - $5,724.80
  • Shimono - $11,224.50

Individual vendors - Many vendor names not here indicating how many had cut them off.
  • A-data - $290,763.13
  • Corsair - $1,101,671.48
  • Fractal Designs - $221,565.95
  • Gigabyte - $760,224.85
  • GSkill - $193,435.15
Jr. Member
Aug 28, 2017
198 posts
43 upvotes
DuDe1411 wrote:
Dec 6th, 2017 9:43 pm
steve wu can be a creditor too?
There is a pretty big shareholder loan there as well as what looks like personal credit cards mixed in there.
Deal Guru
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Mar 1, 2008
11980 posts
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Toronto, Ontario
wobbler wrote:
Dec 6th, 2017 9:09 pm
I made an order in early November and have yet to get the item. I can't seem to cancel it through NCIX. Does anyone have any experience in this situation? Should I make a dispute with my CC company?
Do that but don't get your hopes up on getting anything back.
Member
Jun 1, 2007
327 posts
63 upvotes
Toronto
Yes you should absolutely dispute it with your credit card company! They're there for your protection. 100% call them and report it.
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Mar 31, 2017
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Freeatlast wrote:
Dec 6th, 2017 9:34 pm
Highlights below for those who don't want to run through the pdf. The actual amounts may not all be in CAD.

Banks/credit cards - A surprising amount of this is credit card debt. NCIX spent the last few months running up credit cards to pay for customer orders until they were tapped out.
  • American Express - $4,536,211.66
  • Bank of Nova Scotia - $3,746,750.00
  • Bank of Montreal - $18,340.31
  • CIBC - $354,057.83
  • RBC - $132,501.28
I wonder if Mr Wu had to declare personal bankruptcy. That would be sad - worked this hard to screw it all up this late.
Jr. Member
Aug 28, 2017
198 posts
43 upvotes
apvm wrote:
Dec 6th, 2017 10:52 pm
Unable to post at their forum.
Must be the yellow tape filter.

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