Debts tip $20m at failed point-of-sale distributor

Point-of-sale distributor Mecari owes almost $20 million to creditors, including $4.1 million to a secured creditor, liquidators have estimated.

The company, formerly known as POS POS, owes an estimated $15.9 million to 128 unsecured creditors according to accounts lodged by liquidator Ian Currie of BRI Ferrier on 25 August.

The size of the debt could change as further information becomes available. 

The latest report did not break out individual creditors, but previous documents have indicated Motorola Services, Datalogic ADC, IBM and Zebra Technologies as some of those owed significant debts.

The liquidator estimated between approximately $19,476 and $523,045 in net assets were recoverable and does not expect the liquidation to end until December 2016. They estimated that up to $343,045 could be returned to creditors after their fees and other costs.

Assets sold

Meanwhile, the former Mecari web address now redirects to Goodson Imports. Goodson Imports has purchased most of the IP of the Mecari business and is integrating this with its ERP system, chief executive officer Max Schuddeboom told CRN.

Goodson Imports is a 65-year-old import and distribution company that stocks, services and supports a range of POS and other related equipment in Australia and New Zealand.

The company is an exclusive importer for Posiflex POS Systems, Citizen Systems POS, label and mobile printers, AOpen digital media, SAM4s electronic cash registers, POS systems and printers, Cherry and Tipro keyboards, Opticon scanners and mobility equipment and Koamtac data collectors, among others.

Mecari went into liquidation on 9 February, bringing to an end an award-winning business that operated in multiple states and in New Zealand. The company distributed Toshiba, Motorola Solutions and Epson products.

The business name was changed last year, and Minerva Solutions took an equity stake. Minerva is listed as a secured chargeholder and received $880,000 in payments between January and mid-June this year, according to accounts from receiver and manager Michael Dullaway of Pearce and Heers Insolvency.

Mecari director Scott Loose declined to comment when contacted by CRN.