Shopping Discussion

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

  • Last Updated:
  • Sep 21st, 2018 10:27 am
Penalty Box
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Jul 17, 2008
8412 posts
1823 upvotes
hv6478 wrote:
Dec 6th, 2017 10:25 pm
Yes you should absolutely dispute it with your credit card company! They're there for your protection. 100% call them and report it.
I don't think they will do anything if they know they can't get their money back themselves
Deal Addict
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Dec 3, 2004
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Vancouver
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

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
Wow, what a mess.
Deal Addict
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Mar 31, 2017
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And this is why manufacturers should never allow retailers to buy directly from them. If gigabyte and the rest went through proper channels they wouldn't be on the hook for this mess.
Deal Expert
Aug 2, 2004
28781 posts
4057 upvotes
East Gwillimbury
Not sure what they were thinking. Even if you have 15% margin (we know that isn't true) on product sold. Buying from suppliers using a credit card and then paying 19.5% interest to the credit card companies doesn't make any sense.
Last edited by Gee on Dec 7th, 2017 7:27 pm, edited 1 time in total.
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Feb 11, 2015
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Vancouver, BC
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Welp...guess that one dude got tired of deleting posts so he shut down the entire forums. JFC
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Mar 20, 2016
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Messerschmitt wrote:
Dec 7th, 2017 5:37 pm
I don't think they will do anything if they know they can't get their money back themselves
Of course they will refund the money, he paid and didn't receive anything.
This is part of why they charge such large processing feeds (5%+). To cover theft, rewards points, and various other losses. Amex profit is something like 2 billion dollars.
Newbie
Dec 15, 2015
29 posts
2 upvotes
Canada
I stopped by tonight with friends to try to pick up reward items, we were greeted with an empty parking lot and this posted everywhere:
Image

So yeah, don't waste your time dropping by.
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Apr 6, 2005
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Toronto
CSX222 wrote:
Dec 7th, 2017 8:36 pm
I stopped by tonight with friends to try to pick up reward items, we were greeted with an empty parking lot and this posted everywhere:
Image

So yeah, don't waste your time dropping by.
Until Further notice?? Why the hope
Heat 43-0-0
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Feb 16, 2017
59 posts
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Richmond, BC
I don't know if it has been mentioned or not. Seems like Canada Computers is taking over most of the NCIX stores in metro vancouver area except for Langley and Surrey. Uploaded pic from their site.

http://www.canadacomputers.com/location ... 0gm3org3t2

(https://imgur.com/lqy5YvR)
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Jr. Member
Aug 28, 2017
198 posts
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XSHABX wrote:
Dec 7th, 2017 8:48 pm
I don't know if it has been mentioned or not. Seems like Canada Computers is taking over most of the NCIX stores in metro vancouver area except for Langley and Surrey. Uploaded pic from their site.
Covered a while back. Landlords wanted NCIX removed and gave CC a discount on the leases. Opening should be pretty close now.
Jr. Member
Aug 28, 2017
198 posts
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CSX222 wrote:
Dec 7th, 2017 8:36 pm
I stopped by tonight with friends to try to pick up reward items, we were greeted with an empty parking lot and this posted everywhere:
Image

So yeah, don't waste your time dropping by.
Nice sign. Having your money stolen is always inconvenient.
Jr. Member
Aug 28, 2017
198 posts
43 upvotes
Gee wrote:
Dec 7th, 2017 7:27 pm
Not sure what they were thinking. Even if you have 15% margin (we know that isn't true) on product sold. Buying from supplies on credit card and then paying 19.5% interest to the credit card companies doesn't make any sense.
If they fill a percentage of orders it allows the illusion things are getting processed and keeps customers placing new orders or holding off placing chargebacks. Profit doesn't matter if you don't plan on ever paying the bill.
Deal Guru
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Mar 1, 2008
11972 posts
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Toronto, Ontario
Freeatlast wrote:
Dec 7th, 2017 9:23 pm
Nice sign. Having your money stolen is always inconvenient.
I think the employees printed that out before they left the place for good. No way NCIX would print that out.

I fear for Canada Computer expanding so rapidly into Greater Vancouver Area. I think they're opening one too many stores there.
Newbie
Dec 15, 2015
29 posts
2 upvotes
Canada
XSHABX wrote:
Dec 7th, 2017 8:48 pm
I don't know if it has been mentioned or not. Seems like Canada Computers is taking over most of the NCIX stores in metro vancouver area except for Langley and Surrey. Uploaded pic from their site.

http://www.canadacomputers.com/location ... 0gm3org3t2

(https://imgur.com/lqy5YvR)
It was, but at the time Richmond Lansdowne wasn't listed, and the Vancouver wasn't open yet. I'll stop in eventually when I need something to have a look.
Deal Expert
Aug 2, 2004
28781 posts
4057 upvotes
East Gwillimbury
geokilla wrote:
Dec 7th, 2017 10:03 pm
I fear for Canada Computer expanding so rapidly into Greater Vancouver Area. I think they're opening one too many stores there.
Are you worried about their cash flow? I'm not familiar with the BC market, but this is the best time to expand. Start up costs will be high, but the holiday season should give them a surge in sales to reduce the investment.

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