Phoenix To Acquire The Complete Office
The Phoenix Stores Ltd., through its subsidiary P-Tech Ltd., will acquire The Complete Office Ltd. which will see the island’s two leading consumer electronics providers amalgamate and join forces, the company announced today.
iClick, an Authorised Apple Reseller, is also included in this transaction, however, will continue to trade under the name iClick and operate at its current location on Reid Street in Hamilton.
George Grundmuller, President and CEO of The Phoenix Stores Ltd. said; “We are delighted to announce this significant transaction for our group which allows for future growth opportunities in the industry and positions P-Tech as Bermuda’s leading consumer electronics provider.
“This transaction will be beneficial for the traditional consumers of both companies as we are now in a stronger position to expand on the recognised product brands our customers have come to expect and deliver the high level of service and competitive pricing they desire.
“Ultimately, we are creating a stronger and more capable retail operation out of two very competent and complementary businesses.”
Effective April 29, 2016, the merger and restructuring will see The Complete Office move to the current P-Tech location at 5 Reid Street, Hamilton operating under the name: P-Tech.
As an authorised dealer for a number of reputable brands including Bose, Sony, GoPro, Canon and Samsung, P-Tech will now add Apple, Hewlett-Packard and Lenovo to its accredited offering.
General Manager of P-Tech, Todd Martin, commented; “Undoubtedly, this merger confirms P-Tech as Bermuda’s complete electronics solution and premier provider of consumer electronics.
“Whether desktop computers, laptops, printers, tablets, smartphones, TVs, speakers, digital cameras, camcorders, or accessories – #PTechHasIt, including the ability to perform repairs.”
Mr Grundmuller added; “We do not foresee any job losses with this transaction and certainly anticipate all sales and support staff will transition with the goal of increased growth as a better positioned, merged entity moves forward. Our combined strengths will be used to deliver new products, better service and enhanced value to the market.”
Earlier this month, The Phoenix Stores Ltd. announced its acquisition of Kodak Express, now operating as P-Tech Photo Solutions.
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Who is the Bermudian behind this conglomerate…cha! Going around buying up everything.
It’s happening folks…hahaha…right in front of your sleeping eyes.
The same Bermudian that owns the Phoenex stores etc etc etc
I for one am a bit surprised at this. Wasn’t P-Tech the old Stuarts? When they opened under the P-Tech name they seemed to be moving away from this sort of product. Then they started selling Electronics and Computers downstairs (the old Annex). It didn’t seem like it worked out that well for them so they closed and before long the closed that area down, at least that is what it seemed like?
Now they took over a company that does the same thing??? Oh well, they are still in business while many others have failed so I guess they know what they are doing.
Heard about this a few weeks ago from a reliable source. They also tell me the Redlazer and TOP were in talks with the owners of the property and bidding to take over the spot on Reid Street. Soon come.
I use to work down there for P-Tech. We sold TV’s and stereo equipment. They didn’t want to adjust the prices to be competitive with M&M so I left before the department folded. Bad location as well, plus bad management of the department from the higher ups caused the demise of that sector.
Yay, higher prices!!
Don’t even think to buy any sort of electronics through local retailers anymore.
That’s right!! No American franchise in Bermuda? That’s perfectly alright. It’s so much easier to order merchandise online these days anyway. Online shopping FTW.
I wonder if there are stats to show the percentage of money being spent on consumer goods in Bermuda versus overseas.
Bad news… Buying out the competition means no competitive prices. R.I.P. Bermuda.
Redlaser still has competitive prices, and is still one of the only places you can get spare parts and pc components.
Plus, Redlaser doesn’t try to upsell you on something you don’t need.
(unlike TCO, whom I have observed pushing customers to purchase inferior but more expensive products)
Just like the. Overpriced cell phone. IPhone. 6s 64mp $1099 cellone
Best buy 899.99
So with 25% tax the Best Buy phone is $1,123.75… so more expensive than CellOne.
900 + 25% duty at airport = 1125
1099 doesn’t seem so over-priced.
Price today at Best Buy is $829.89, add the 25% duty paid when you carry it through the airport and the landed price becomes $1037.36, so buying it from Best Buy and bringing the phone home saves you a grand total of $61.64!
Plus the US sales tax when you buy from Best Buy …
Did you forget you were in Bermuda?
Just don’t buy locally. No competition. No service. suprosed people are rich enough to.
P*tech recently bought out Kodak as well. I agree less competition means higher prices. Complete office has some outrageous prices so I won’t be shopping there regardless. I had once bought a PC from there and it was loaded with trial software and for the price I paid it should’ve been regular full software.
I support local stores and buying BDA but I don’t support businesses heavily like P*Tech or Phoenix for anything major since their mark ups seem to be very high like at times 100 to 300% where I will support reasonable mark up on products like 25 to 50% over US retail at local stores.
The best thing to do is bring in products through BDAEXPRESS the best kept secret for forwarding products in. They are way cheaper than Mailboxes/US Express who do a lot of advertising which they have to add in their prices I am sure to pay for. I won’t even talk about ZipEx which is awful. I used them all and BDAExpress is the cheapest by far though at times it may take a few extra days to arrive in BDA the charges over US express was like 25 to some times 50 % savings.