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WONDER COMPUTERS, INC. TO ENTER HEAVY RESTRUCTURING, EMERGE AS NEW FIRM
January 30, 1996
Ottawa, Ontario, Canada
Today, Wonder Computers Inc. entered the most dramatic and critical stage
of its restructuring, initiated two weeks ago when a large corporate loan
was called in.
Despite record sales in January, Wonder Computers Inc. has operated at a
loss for months, attributable to the lack of available Amiga computers to
sell. It was no longer possible to extend Wonder Computer's credit.
As of January 30th, all Wonder locations will be under the supervision of
court-appointed trustees. Regular business will not be conducted at WCi
headquarters, nor at Wonder's 6 retail locations.
However, this does not spell the end of Wonder Computers. WCi President
and CEO Mark Habinski has put a plan into action to enlist venture capital
from an outside firm and purchase the assets of WCi from the trustees.
These assets, comprising the inventory, intellectual property, equipment,
and leases of WCi, would then be used by a new company, to be dubbed Wonder
Computers International. This company would be debt-free and would
continue WCi's business, ideally with minimal interruption of service.
It is Habinski's goal to have Wonder Computers International up, running,
and functional for a March 4th launch. All retail operations will be
restarted at this time, hopefully with the same phone numbers to minimize
the impact on service to its customers.
The Amiga market is beginning to turn around for North America. It is the
belief of the Wonder Team that a leaner, debt-free company with world-class
resources is the best thing for the market right now, and they are striving
to create such a company.
Contact: Jason Compton, Promotional Director, WCi
847-741-0689 fax, email@example.com e-mail
Attached: A Letter From Mark Habinski To the Amiga Community
At this time I'd like to thank all of those who helped to make the Wonder
dream a reality. First, I'd like to thank my wife and family, without
who's support none of Wonder's successes would have been possible. I'd
also like to thank all of our shareholders. You believed in me, and in the
Wonder concept, and I thank you for your unswerving confidence.
Next, I'd like to thank all of our suppliers and developers, particularly
those top flight people who work hard day in and day out to bring new and
exciting products to the Amiga platform. Theirs is often a thankless task,
and without them, the Amiga would never have survived Commodore's Demise.
I'd also like to thank the brave hearts at Escom and Amiga Tech for doing
something daring, and bringing the Amiga back to market. Petro and his
team have worked hard, and I believe, stand every chance of succeeding in
their quest to bring the Amiga back to the forefront of personal computing.
I'd especially like to thank my team: the Wonder team, for working so
incredibly hard over the past three years to promote and support our
company and the Amiga platform. Never have I had the privilidge to work
with such a dedicated and inspiring group. Wonder employed just over 100
people during its 33 months in business. At our zenith, a few short weeks
ago, our team consisted of 62 people, by all accounts, the largest
Amiga-dedicated workforce on earth.
I'd like to write in detail about each of these quality individuals, and
will do so in another forum. But here, I trust it will suffice to say
thank you, one and all for bringing Wonder the most valuable gift in your
possession, yourselves. I look forward to working with you all again in
the near future. I'd also like to thank all of the unsung heroes in the
Amiga success story (for I believe the Amiga's mere existence today to be a
tremendous success against the odds). I'd like to thank every Amiga user
group, every show co-ordinator, every Sysop, every journalist, and every
dealer who has contributed to the continuance of the Amiga platform. Your
efforts have not been in vain. The Amiga has weathered an incredible
storm; but it is back now, and its back to stay!
Finally I'd like to thank our most ardent supports, our customers. Wonder
has been far from perfect, but despite our numerous mistakes, our customers
have stuck by us. They've spent just under ten million dollars of their
hard earned money on our Amiga products and services. They've been
patient, they've been loyal, and over the past few days I've seen them be
incredibly supportive. Thanks to each of you, for helping to prove to the
world that an Amiga-dedicated retail chain can succeed in North America!
Founder, President, CEO
Wonder Computers Inc.