Ellies Holdings
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Ellies Holdings Ltd was a diversified electronics company in South Africa, Ellies Electronics was founded in 1979 by Elliot Salkow, who died in 2021.[1] He initially operated from his garage and sold aerials from the boot of his car. The business was 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,[citation needed] as well as a manufacturer of industrial audio electronic and electrical equipment under the 'Ellies' brands[citation needed] and satellite and associated equipment under the 'ElSat' brand.[citation needed] Through Megatron Federal, Ellies was involved in power infrastructure (generation, transmission and distribution).[citation needed] The company also entered the renewable energy and internet connectivity markets via satellite sectors through joint ventures with In-toto Technology Investments[citation needed] and Q-KON[citation needed] respectively.
Business rescue and liquidation
[edit]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
[edit]- ^ 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.