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Maclean Computing reborn as Maclean Technology

By Mike Borgfeldt, 19 Jul 2012
FYI, this story is more than a year old

The assets of family-owned IT company Maclean Computing are to be re-purchased by former CEO Chris Maclean under a new company name, Maclean Technology, after the old business was placed into liquidation late last week.

The purchase has been made with the help of Maclean’s business partner Matthew Bellingham.

Maclean, who joined the business in 2007 and later took over from his father Allan as CEO in 2009, has issued a statement blaming the failure on a large debt incurred as a result of theft by the company’s former financial controller, ‘on top of the losses as [the company] adjusted to the new post-recession environment’.

"Paying debt related costs eventually got the better of us,” Maclean says, "despite making every effort to address them over the last two years.”

For the company’s creditors, Maclean says unfortunately there will be some who ‘miss out’.

"We are extremely sorry for this as they were all valued suppliers,” Maclean says.

"I think the most important thing is that they understand that there was nothing Machiavellian about what has happened. We tried absolutely everything to sort them out including hundreds of thousands of dollars from the wider family.

"My best course of action now is to start again, do my best to recreate some wealth for my family and to generate business for those happy to work with Maclean Technology going forward.”

The amount that was stolen is said to be around $500,000, while the total amount left owing by Maclean Computing has been put between $1 million and $2 million.

The sale of the business back to Maclean is made possible by section 386A-F of the Companies Act, also known as the ‘Phoenix Law’. Such sales can only take place under certain criteria, and in this case those criteria were met.

According to the Companies Office file, Maclean Technology Limited was incorporated by Chris Maclean in November 2011.

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