 | This article needs additional citations for
verification. (April 2014) |
Ellies Holdings Ltd was a diversified electronics company in South Africa, Ellies Electronics was founded in 1979 by the late Elliot (“Ellie”) Salkow, who passed away in 2021. [1] He initially operated from his garage and sold aerials from the boot of his car. The storied history ended abruptly on Wednesday with the news that the business would close and liquidated in 2024. [2] It was listed on the Main Board of the JSE, in the Electronic and Electrical Equipment Sector.
The company was a distributor of TV aerials and installation equipment, as well as a manufacturer of industrial audio electronic and electrical equipment under the 'Ellies' brands and satellite and associated equipment under the 'ElSat' brand. Through Megatron Federal, Ellies was involved in power infrastructure (generation, transmission and distribution). The company also entered the renewable energy and internet connectivity markets via satellite sectors through joint ventures with In-toto Technology Investments and Q-KON respectively.
Business rescue and liquidation
At the end of January 2024, the more than four-decade-old electronics group said it intended to enter business rescue amid the collapse of a crucial acquisition. [3]
On 10 April 2024, its business rescue practitioner announced that there are no reasonable prospects of saving the business and that an application for a liquidation order will be made to the court. [2] The business rescue practitioner later clarified that the company’s main operating subsidiary, Ellies Electronics, will continue to trade, as was on track to publish a proposed business rescue plan by 10 May 2024. [4]
References
< [1] >
- ^ a b Staff Writer (2024-07-15). "End of the road for Ellies". TechCentral. Retrieved 2024-07-16.
- ^ a b Karl Gernetzky (10 April 2024). "Electronics group Ellies headed for liquidation". News24. Retrieved 11 April 2024.
- ^ Nick Wilson (31 January 2024). "Ellies to enter business rescue amid collapse of Bundu Power bid". News24. Retrieved 11 April 2024.
- ^ Jan Vermeulen (11 April 2024). "Ellies Holdings is dead, long live Ellies Electronics". MyBroadband. Retrieved 11 April 2024.
| This article needs additional citations for
verification. (April 2014) |
Ellies Holdings Ltd was a diversified electronics company in South Africa, Ellies Electronics was founded in 1979 by the late Elliot (“Ellie”) Salkow, who passed away in 2021. [1] He initially operated from his garage and sold aerials from the boot of his car. The storied history ended abruptly on Wednesday with the news that the business would close and liquidated in 2024. [2] It was listed on the Main Board of the JSE, in the Electronic and Electrical Equipment Sector.
The company was a distributor of TV aerials and installation equipment, as well as a manufacturer of industrial audio electronic and electrical equipment under the 'Ellies' brands and satellite and associated equipment under the 'ElSat' brand. Through Megatron Federal, Ellies was involved in power infrastructure (generation, transmission and distribution). The company also entered the renewable energy and internet connectivity markets via satellite sectors through joint ventures with In-toto Technology Investments and Q-KON respectively.
Business rescue and liquidation
At the end of January 2024, the more than four-decade-old electronics group said it intended to enter business rescue amid the collapse of a crucial acquisition. [3]
On 10 April 2024, its business rescue practitioner announced that there are no reasonable prospects of saving the business and that an application for a liquidation order will be made to the court. [2] The business rescue practitioner later clarified that the company’s main operating subsidiary, Ellies Electronics, will continue to trade, as was on track to publish a proposed business rescue plan by 10 May 2024. [4]
References
< [1] >
- ^ a b Staff Writer (2024-07-15). "End of the road for Ellies". TechCentral. Retrieved 2024-07-16.
- ^ a b Karl Gernetzky (10 April 2024). "Electronics group Ellies headed for liquidation". News24. Retrieved 11 April 2024.
- ^ Nick Wilson (31 January 2024). "Ellies to enter business rescue amid collapse of Bundu Power bid". News24. Retrieved 11 April 2024.
- ^ Jan Vermeulen (11 April 2024). "Ellies Holdings is dead, long live Ellies Electronics". MyBroadband. Retrieved 11 April 2024.