Former SCentral chief and Young Rich list member Peter Mavridis has shrugged off the creation of a website set up to criticise his role in the demise of the IT provider, saying a “vocal minority” is responsible for the attack.
As SmartCompany reported yesterday, SCentral was placed in liquidation on February 23, less than four months after selling its assets to rival IT business Brennan.
The shell of SCentral as placed in the hands of receivers in late November, with the debts of a reported $10 million. The appointment of liquidators is seen as putting a full stop to SCentral’s existence, and will allow SCentral’s former staff to claim unpaid entitlements through the Government’s GEERS scheme.
However, this is unlikely to quell the anger of a group of disgruntled SCentral staff who set up a website called “Chase Mavridis“. According to the anonymous creators, it is designed to help creditors “to collaborate in the aim of getting back as much money as possible”.
But Mavridis says he isn’t too worried about the site.
“Most of the staff that are not happy with the process are the ones that didn’t get jobs with Brennan. There is only about 10 that didn’t get offers – but they are loud, those 10.”
Mavridis has also defended the sale and subsequent liquidation.
“At the end of the day we sold the business to Brennan IT and we were left with shells. We could deregister the business or put it into liquidation.”
“There was nothing unusual that transaction. Sometimes it’s a share purchase, sometimes it’s an asset purchase.”
Mavridis says SCentral faced the problem that many small IT providers face – get big or get out.
The company attempted a reverse takeover of Computer Corp last year but this deal eventually fell over, leading Mavridis to examine other acquisition and merger opportunities.
“In this case it ended up being a better outcome for Brennan to buy us.”
Mavridis is now chief executive of Melbourne company Chandler Group, which has two divisions: Chandler Recruitment and Chandler Pacific, a construction services business.
While he is clearly moving on from SCentral, Mavridis believes the sale process was handled well, although acknowledges some staff might not agree.
“You can always improve on the way you go through mergers and acquisitions, but the outcome for everybody isn’t the same for everyone.”
James was the editor and publisher of SmartCompany and LeadingCompany for five years. He is now the Australian Financial Review‘s companies & markets editor, and a former BRW editor.
Comments