Misco

Misco
Industry Computer hardware
Founded 1985 (1985)
New Jersey, United States
Defunct 25 July 2016 (German operations)
19 October 2017 (United Kingdom and Irish operations)
Headquarters Wellingborough, England, United Kingdom
Website http://www.misco.co.uk/

Misco was an IT brand whose ownership was split between Hilco Capital Limited and Systemax.[1] The company operates in Italy, Spain, Belgium, France, the Netherlands, Sweden and a Shared Service Centre in Hungary.[1] Misco also used to operate in Germany, but that business has been sold to CANCOM SE in July 2016.[2] It used to operate in the United Kingdom and Ireland, but the businesses in those countries have failed.

Sales were targeted at business, education, public sector and consumer markets, with sales being made online, via telephone and mail order catalogue.

History

Misco was founded in New Jersey, United States, and ran a business of mail order sale of computer supplies and accessories. Gillette invested in Misco in 1983, taking a 40% stake, as part of a program to acquire high-growth low-risk businesses.[3] Misco launched its first European subsidiaries concurrently in the United Kingdom and West Germany in October 1985.followed by Italy in 1986.

In November 1987, Gillette sold the company to the British company Electrocomponents plc for the sum of £11,000,000. The effects of the beginning of the 1990s recession led Electrocomponents to sell Misco at a loss in the beginning of 1993. The buyer, Global Computer Supplies, was controlled by Systemax Inc and HCS (Global) Ltd at the time.

In 2002, Global, now known as Systemax, began a program of restructuring. This would see its newly acquired Simply Computers business merge with Misco's operation in the United Kingdom in Wellingborough by February 2005.[4] Also, logistics were established in a purpose built warehouse in Greenock, Scotland.

The brick and mortar outlets founded by Simply were gradually closed down, a symptom of consumer trends moving away from the High Street and to online. Misco expanded its business from onwards of 2005, winning customer satisfaction awards from PriceGrabber, a performance award from Hitwise and achieving ISIS and IDIS accreditations.[5]

In April 2009, Misco announced plans for hiring remote sales agents on a work from home basis.[6] In 2013, Systemax opened a SSC in Budapest, Hungary, to support the EMEA countries's processes.

In July 2016, Systemax sold Misco Germany to CANCOM SE.[2] In March 2017, Systemax sold its EMEA Technology Products Group excluding its French operations to Hilco Capital Limited.[1]. On 19 October 2017, after an unsuccessful turnaround, Misco UK entered into administration.[7]. On 12 December 2017, Misco Sweden filed for bankruptcy[8].

References

  1. 1 2 3 "Systemax announced the sale of all its European Technology Products Group Businesses, excluding their operations in France". Retrieved 2017-03-27.
  2. 1 2 "Systemax Announces Sale Of German Operations To CANCOM SE" (Press release). Port Washington, New York: PR Newswire. 2016-07-25. Retrieved 2016-09-23.
  3. ↑ Gordon McKibben (1998). Cutting Edge: Gillette's Journey to Global Leadership. Harvard Business Press. p. 121. ISBN 978-0-87584-725-2.
  4. ↑ Simply Computers suffers big redundancies
  5. ↑ Misco accreditation awards Archived 19 July 2009 at the Wayback Machine.
  6. ↑ Misco GM Sandy Price interviewed by Hexus.tv
  7. ↑ https://www.channelweb.co.uk/crn-uk/news/3019481/misco-uk-goes-bust
  8. ↑ https://computersweden.idg.se/2.2683/1.694831/nya-agaren-blev-inget-lyft--misco-i-konkurs
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