By Patrick Avenell
Eighteen months after appointing an administrator, the Hong Kong-based owners of Eurolec is still attempting to sell the brand’s local naming rights.
Current.com.au reported in March 2007 that Eurolec’s Australian supplier had been placed in administration following a funding dispute with the company’s major shareholder, who at the time was based in Singapore.
In an interview at that time, Eurolec managing director Martin Shaw spoke of this incident.
“An administrator was appointed to Eurolec Australia late last week [March 2007]. The company’s major shareholder and financier in Singapore, withdrew support after a dispute, an they appointed an administrator,” said Shaw.
Although Shaw didn’t elaborate in that interview as to the exact machinations going on, he did say that was confident that the brand name, which had been in Australia since 1985, could be sold.
A year and a half later, a Queensland-based business broker, Lloyds, is still offering the brand for sale.
In promotional material, Lloyds says the current Hong Kong owner is “prepared to supply Italian and Chinese manufactured products the acquirer of the Eurolec brand if that was of interest to the acquirer”.
According to this material, the Eurolec brand name is registered in Australia until 2017 and can be applied to a range of appliances, including ovens, cooktops, refrigerators, smalls and air conditioners. Furthermore, Lloyds states that in the final year of trading before administration, Eurolec’s biggest selling item, a freestanding cooker, sold over 4,000 units.
Prospective customers are invited to visit Eurolec’s Australian website, although this site is currently static, with users in need of parts and services being asked to call a 1902 number.
After Eurolec, Martin Shaw was a sales manager at Glen Dimplex, but has since left that position.