The digiDirect Group acquires Mwave following Esel’s administration

Esel’s Mwave business has been sold to the digiDirect Group following its entry into voluntary administration and plans to maintain business as usual.

Founded in 2005 by current CEO Shant Kradjian, the digiDirect Group consists of several brands, including consumer electronics retailer digiDirect, online bookstore Booktopia, and various other businesses across health and wellness, hospitality, lifestyle, and property and assets.

It also acquired library supplier James Bennett last month.

In an update shared on Mwave’s blog, the online IT retailer said it would continue trading from its Lidcombe headquarters and showroom before transferring to the group’s headquarters in South Strathfield.

Additionally, all of Mwave’s employees have been offered roles under its new owner.

“Under the new management, our vision is to build on the Mwave operation that customers know and love and utilise the resources and expertise within The digiDirect Group,” the company stated.

“The digiDirect Group and its subsidiary companies [have] a long history and stellar reputation of serving its customers and broader industry with excellence on a consistent basis. Mwave will be no exception to this.”

Consumers and businesses can still place orders, although the retailer said it anticipates delays of up to two to three days on available shipments as it works through a stocktake and changes its courier accounts to the new ownership.

The acquisition of Mwave comes days after Esel appointed joint administrators Antony Resnick and Henry Lo Leung Kwok from dVT Group on 13 June. The first creditor’s meeting for Esel is due to take place on 25 June.