Given that Maelstrom Games have publicly blamed Wayland Games for their troubles it is no surprise that Wayland have responded. It seems that Wayland have offered to buy Maelstrom Games twice this year in their words to protect us the customers and the supply chain. Go HERE to read the response.
Reading between the lines Wayland wanted to expand by getting Maelstroms customers and was prepared to buy them and take on their debts. This would have been a great acquisition for them and I assume they did their home work and it would be worth their while. However Maelstrom ignored both e-mails (why e-mail and not phone calls????) so in a bid to force the owners hand they bought the debt and then called in the total debt which Wayland knew they could not honour. This is fairly normal practise in business when you have a competitor in trouble. It is not Wayland doing everyone a favour as they try to make out in their version of events. Not that I am blaming Wayland or hold their actions against them but the idea that somehow they are a knight on a white steed makes me want to puke and laugh in turns.
Maelstrom though are not playing ball, rather than sell up to Wayland obviously they have taken the route of accepting the closure of their business but it seems to me that they still intend to trade by reinventing them selves as Eye of the Storm. I can't see Wayland pumping in so much money (I am assuming they bought the £99,700 odd debt for far less, if not then they are mugs). Expect a few months of interesting events, the only question is will it continue to be rather open or more restrained?
Yeah.. very interesting turn of events. Will see how it plays out.
ReplyDeleteTrying to buy an company by email is just stupid.
ReplyDeleteI will miss Maelstrom but the management have clearly drained the company instead of paying the bills.
I havn´t found my new "drugdealer" yet but instead switched to buying directly from the maker.
Interesting troubles especially in our little world!
ReplyDeleteInteresting reading the two companies statements. The truth, as ever, is probably somewhere between the two versions of events.
ReplyDeleteHaven't found a new plastic crack peddler yet (IGUK were really helpful, but don't stock everything) although some bad experiences with them will keep me away from Wayland.
And so the plot thickens!
ReplyDeleteI don't buy from them but I've been following the story around the blogosphere. Corporate politics can be ugly and hopefully the customers come out on top when this gets resolved. Right now lots of people I follow have not received their product from Maelstrom and that's just wrong.
ReplyDelete@ M R Lee, interesting and sad as I think what ever the outcome jobs will be lost and as usual just before Christmas
ReplyDelete@ Engel, I hear you, the managment threw a lot of money into figure design and manufactour, the more they put in the more it had to be a success and clearly hat was not the case.
@ Angry, worst case scenario is the loss of both companies as Wayland at this point seem to just have bought a bridge somewhere. Not sre how that debt will factor in a take over bid.
@ Vladdd my thoughts exactly, neither are looking too good based on their own statements never mind from the other statement.
A friend bought from Wayland recently and was very happy with the service so if you had bad happenings some time ago maybe they are sorted?
@ Anne, some customers will loose out no question. Maelstroms biggest failing in my eyes was continuing taking orders (and money) when they must have known they could not fullfil.
Would be rather interesting to know when Maelstom stopped this habit, before or after Wayland bought the debt. I am thinking after.
Ian
Its the story that keeps on giving!
ReplyDeletePerhaps they can duke it out over a game of Blood Bowl - winner takes all!
So much soap-opera drama!
ReplyDeleteUltimately if Maelstrom were going to collapse I don't have a problem with Wayland trying to acquire them. Oh and I hope you don't mind I have passed the Liebster Blog award on to you.
ReplyDelete@ Phil, I think Wayland might want to start with an advantage given their steak, shall we say 8 scores? ;-)
ReplyDelete@ Jonathan, do you think some TV company will make a mini series out of it, shame the Dalas cast now have a new job I think they would have been a great fit.
@ Smillie, I have much the same view. I can not see the original company being happy with the £500 a day payment nor the likly hood that Maelstom still keeping going given the way they had allowed themselves to get that deep into debt. I imagine that tey owe plenty of other suppliers as well. The only way for them to go frward is to bring in fresh managment what ever the outcome. I know I could add 10-20% to the retail stores sales if I took over that department. This is no idal boast it's a fact as they do so many things wrong that just a tidy up would bring in more revenue and cut back shrtages by a huge amount (i.e. reduce shop lifting by a chunk). The biggest problem Malstrom seemed to have was no consise management at the visable levels so probably at other levels as well. Ordering disaplin was way off the scale and that stems from lack of accountability. The fact it took three months to sell off stock when they had crazy prices proves this.
Oh and many thanks for the award, I have had my thinking cap on so better get cracking
Ian