It’s with no surprise that we saw Systemax offload almost all of its Misco-branded European operations recently to business rescue specialist Hilco Capital.
Systemax had previously sold off it’s US Tigerdirect business and is only now left with it’s Misco outfit in France, but who knows for how long? One final sale would then mean a total withdrawal from the IT reseller channels.
Misco UK have a lot of great people, and we hope that a buyer is quickly found to make the most of the staff and it’s key public sector contracts.
The good news is that Hilco has an impressive record for turning around businesses, including saving HMV in 2013 and more recently stepping in to help Staples UK.
Chris Emmot, of Hilco Capital, said that it would be “putting the business on a new growth pathway” and was confident that the future would be brighter.
We wish them all the best with meeting the challenge before them and turning the business around.