Auckland based distributor Morning Star yesterday puttered into receivership with the appointment of BDO Spicers.
A number of calls were made by The Channel to the company's largest shareholder and Director Austin Chen, but at the time of publishing, no contact had been made.
In January this year 44% of The Channel's readers when polled believed that Morning Star wouldn't survive in this current competitive environment. At the time the company was trying to portray a rosy future with a number of retail focused brands and announcements. But its fate seems now to be sealed.
As our story in January explained, strong competition from Ingram Micro and the launch and consolidation of Synnex in New Zealand, seems to be a key reason for the company's failure.
Read more about the previously formidable distributor here.