Apple reseller Next Byte shuts down

Parent company, Vita Group will close the remaining eight stores from January onwards

Apple reseller, Next Byte, will be shutting down its remaining eight stores during a three month period, taking place from January.

Parent company, Vita Group, said the timing of the closures will be dependent on individual store circumstances, and it will continue providing products and services to its business customers via its telecommunications SMB and enterprise channels.

Next Byte staff will be redeployed to other areas in the Group and if roles can’t be found, retrenchments with full entitlements will be paid, Vita Group said in a statement to the ASX.

“The welfare of our team members and customers is our most important concern and we are working to manage the impact of this decision as responsibly and respectfully as possible,” Vita Group CEO, Maxine Horne, said.

As a result of the Next Byte closure, Vita Group expects EBITDA to range between $25.5 million to $27.5 million, including one-off charges of about $3.2 million at the EBITDA level.

During the 2015 financial year, Next Byte experienced a 20 per cent decline in revenue to $59.9 million, which was attributed to fewer stores and soft sales in older format stores. On a like-for-like basis, revenues were down seven per cent, but EBITDA increased 11 per cent.

Next Byte was acquired by Fone Zone (which changed its name to Vita Group in April 2008) in a deal worth about $30 million in August 2007. At the time, it was Australia’s largest specialist retailer of Apple products and services with 17 stores nationally.

In 2009, the Apple chain had 22 stores.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Applevita groupnext byte

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.
Julia Talevski
Show Comments

Brand Post

Bitdefender 2018

With determination and drive, you achieve outstanding performance! Get Bitdefender Total Security 2018 Now!

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?