Customers to win in unsold stock purchase
by Arnold's Boat Shop 24 Aug 2021 23:20 PDT
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Shorter waiting times for some marine and recreational products will be just one of the benefits resulting from a consortium having purchased all of the unsold stock, as well as some other assets, from Arnold's Boat Shop.
The unsold stock had been sitting in a warehouse in Sydney.
Customers also can expect a wider range of marine and recreational products, a more efficient on-line purchasing and delivery system, better communication and greater discounts on some lines, as a result of the acquisitions.
The consortium of established marine retailers purchased the unsold stock as well as some other remnants of Arnold's Boat Shop, including its web domain, from Worrells Solvency & Forensic Accountants.
Creditors elected Worrells on May 21, 2021 to be the official liquidators of Nold Trading Pty Ltd (the operator of Arnold's Boat Shop), following Worrells' earlier appointment as administrator of Arnold's.
The consortium's first objective is to get those unsold products out into the marine and recreational marketplace as soon as possible to help offset the impacts of manufacturing shortages and Covid-related distribution issues.
"The acquisition of unsold stock and other elements, will allow us to cut waiting times for some products and to get them efficiently into the hands of customers," a spokesman for the consortium said.
"By providing better warehousing, ordering, communication, sales and distribution systems, that process can start almost immediately."
"Waiting times for some marine products have blown out to weeks, months and in some cases, possibly a year."
"Boaties are understandably unimpressed when told they have to wait unheard of times for the arrival of parts, some of which are required before they can get their boats back on the water," he said.
"Thanks to our acquisition of the unsold stock, as well as access to our existing resources, we will be able to cut those waiting times in some cases."
(None of the members of the consortium have any corporate connections or association whatsoever with the previous owner or operations of Arnold's).
The consortium spokesman said the group would retail and wholesale the unsold stock under the banner of the arnoldsboatshop.com.au website.
However, it was the assets, domain and some other remnants which the consortium had purchased and not the Arnold's business itself.
"The consortium will continue to sell via a reconfigured Arnold's chandlery web site and will collectively keep it as a separate entity to their own existing businesses," the spokesman said.
"The business model will be one of fast, efficient ordering and dispatch across a massive range of products with all business conducted through on-line orders, rather than establishing a series of new retail shopfronts for the brand."
"The consortium will seek to attract previous clients back with outstanding value-for-money offers, an increased diversity of products as well as efficient and transparent sales processes."
"The Arnold's brand also will supply products to existing marine retailers in order to assist them to retain long-standing customers."