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Vadim goes into liquidation
Director blames investment deals falling through, as well as the credit crunch, and puts the Vadim brand up for sale
Chobanu hasn’t provided a lot of detail on the warranties of Vadim’s kit yet, but he says that ‘depending on the interest of the buying company, which I hope will happen, it would be decided on the ways forward to honour the warranties.’ He also notes that ‘our PCs also carry vendor’s warranties which in many cases are lifetime or longer than the life cycle of a PC.’ The website will stay live and will be updated on further announcements, although the forum will be locked for the moment.
Vadim Computers was first established in 2004, and was started by Chobanu as a final year student with a credit card with a £5,000 limit. Chobanu says that ‘I am extremely proud of our team’s talent and creativity and I would like to apologise for letting them down now, when we were so close to the success. We did enjoy the highs and lows and the whole trip was a truly unforgettable experience and no matter what happens, I wish everyone success in their careers.’
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...somehow I feel that they could have done better on a few things. Is this re-engineered pc the best they could come up with?! Just to get a sense of what I mean, have a look at a trully fantastic power pc: http://www.voodoopc.com/#/productsomen. IMHO, this is a trully outstanding pc and not the re-engineered vadim one. Frankly, they did their best providing custom pc solutions to that specific niche in the market but now the big boys (HP w/ Blackbird and voodoopc, DELL &c) are stepping in and it will be taking quite a bit more to stay in there and compete. And that can only be more evident if one considers the premiums they were charging for their products. All in all, not too bothered that they stepped out.
Comment by MontBlanc3 at 12:57pm 25th August 2008
...somehow I feel that they could have done better on a few things. Is this re-engineered pc the best they could come up with?! Just to get a sense of what I mean, have a look at a trully fantastic power pc: http://www.voodoopc.com/#/productsomen. IMHO, this is a trully outstanding pc and not the re-engineered vadim one. Frankly, they did their best providing custom pc solutions to that specific niche in the market but now the big boys (HP w/ Blackbird and voodoopc, DELL &c) are stepping in and it will be taking quite a bit more to stay in there and compete. And that can only be more evident if one considers the premiums they were charging for their products. All in all, not too bothered that they stepped out.
Comment by MontBlanc3 at 12:57pm 25th August 2008
...somehow I feel that they could have done better on a few things. Is this re-engineered pc the best they could come up with?! Just to get a sense of what I mean, have a look at a trully fantastic power pc: http://www.voodoopc.com/#/productsomen. IMHO, this is a trully outstanding pc and not the re-engineered vadim one. Frankly, they did their best providing custom pc solutions to that specific niche in the market but now the big boys (HP w/ Blackbird and voodoopc, DELL &c) are stepping in and it will be taking quite a bit more to stay in there and compete. And that can only be more evident if one considers the premiums they were charging for their products. All in all, not too bothered that they stepped out.
Comment by MontBlanc3 at 12:57pm 25th August 2008
A new site/forum is up that offers advice to people that owns Vadim PC's. www.vadimites.co.uk even if you dont own a Vadim feel free to pop in and check it out.
Comment by VadimWolf at 11:24pm 14th July 2008
Sorry, but a 'decent' Honda Civic Type R?? There is no such thing, granted a good car but it's a boy racer. Get a mans car! lol.
Comment by C7ouD at 9:57am 14th July 2008
Just to say the picture at the top is not the new case they where working on and it a shame they gone Vadim worked very hard on customer services.
Comment by Deathwalker1701 at 12:42am 12th July 2008
Yes, the businesses who use ebay sell 12ghz quad core machines. Not quite what the actual figure is... It is a shame, and, when you think about it, they don't overprice, you are under no illusion about what you are buying, you are buying the workmanship. Whatever pc you can build in a week, vadim will build a faster, better made one. Vadim supplied their pcs in flight cases, they gave excellent warranties. Yes, they were not the cheapest, but they were better value than dell, http://www.vadim.co.uk/Custom%20PC%20Build/Cepheus vs the last dream pc dell, which cost more than that, and is slower.
Comment by bug8504300 at 6:26pm 11th July 2008
Its a shame, but why would you pay soo much for a PC. I could buy a decent honda civic type R for a little more. I love their designs but would never think of spending so much on a PC. Buy a games console (game developers say they will be making lesss games because games get pirated so easily). GTA IV is one of them i really like their pc's but its a shame a british company goes down. the next business plan maybe to use ebay other pc vendors do
Comment by r1sh12 at 1:21pm 10th July 2008
Its a shame, but why would you pay soo much for a PC. I could buy a decent honda civic type R for a little more. I love their designs but would never think of spending so much on a PC. Buy a games console (game developers say they will be making lesss games because games get pirated so easily). GTA IV is one of them i really like their pc's but its a shame a british company goes down. the next business plan maybe to use ebay other pc vendors do
Comment by r1sh12 at 1:21pm 10th July 2008
And another victim of the credit crunch (y'all know the name): AMD's Ruiz May Drive Bondholders Away With Losses, Cash Drain By Ian King July 10 (Bloomberg) -- Advanced Micro Devices Inc. bondholders are among the last optimistic investors in the money-losing chipmaker. Even they may be ready to sell. Prices on the company's bonds have risen 14 percent since mid-January. These investors are underestimating problems at the company, according to Robert Lee, a bond analyst at KDP Investment Advisors, including its record $5 billion in debt, six straight quarterly losses and spending on plants and equipment it can't afford. Chief Executive Officer Hector Ruiz, after a year of searching for a way out of the company's cash squeeze, has few options left, given the weakness in AMD stock and credit-market tightening. He may have to offer a large stake to an outsider, which at today's prices would be worth 33 percent less than at the beginning of the year. Or Ruiz might sell AMD's two factories and outsource production. ``They've escaped in the past, but they've never had to face this debt load,'' said Lee, in Montpelier, Vermont. ``It's only going to get tougher because Intel has many more resources.'' In an industry where Intel Corp., the leading company, spends a quarter of its revenue on product development and new plants, AMD is falling further behind. AMD's capital budget of $1.1 billion this year is the lowest since 2003, and next year's spending may be limited to the $600 million the Sunnyvale, California-based company generates in operating cash flow, estimates Doug Freedman, an analyst at American Technology Research in San Francisco. Nine Losses ``We're looking at multiple options that leverage our world-class manufacturing capabilities and relationships,'' said AMD spokesman Drew Prairie. While AMD has always struggled -- reporting 9 annual losses in the last 15 years -- its problems were heightened by the 2006 purchase of graphics chipmaker ATI Technologies Inc. The $5.4 billion transaction now dwarfs AMD's stock value of $3.07 billion, down 74 percent in two years. ``If they hadn't bought ATI, they'd still be in the soup, but it wouldn't be this bad,'' said David Wu, an equity analyst at Global Crown Capital in San Francisco. That isn't to say that AMD is in immediate danger of running out of cash. Ruiz is poised to report the smallest loss in seven quarters when the chipmaker announces earnings next week, according to the average analyst estimate. AMD is now selling processors for servers that run Web sites after delaying the products last year. Intel's Lead Intel will invest $11.2 billion this year in new plants, equipment, research and design. That is 76 percent more than the $6.35 billion analysts estimate AMD will get in revenue. Intel is using the financial clout to redesign its entire chip lineup in the fourth quarter, a jump forward that means AMD won't have comparable products for at least 18 months, Wu said. Rather than decrease its capital spending, AMD needs to boost it to keep up with Intel on products, said Moody's Investors Service analyst Rick Lane. The catch: If cash and marketable securities, which stood at $1.75 billion on March 29, fall below $1.2 billion, he'll downgrade AMD debt from its current rating of B2. This pinch on cash when coupled with tight credit markets is making it harder for Ruiz to sell bonds. Investors are demanding the highest yields in more than five years to own junk-rated bonds, according to Merrill Lynch & Co.'s High Yield Master II index. The average speculative-grade bond yielded 11 percent on July 8, up from 8.19 percent a year ago. AMD's 7.75 percent notes due in 2012 have climbed 14 percent since Jan. 10 to 85.75 cents on the dollar, yielding 12 percent, according to Trace, the Financial Industry Regulatory Authority's bond-pricing service. Abu Dhabi Investor For Ruiz, 62, options for raising equity are equally limited. The stock has fallen 60 percent since November, when the CEO sold an 8.1 percent stake in AMD to the investment arm of the Abu Dhabi government for $622 million. Selling the same number of shares today would raise $247.9 million, based on yesterday's close of $5.06 on the New York Stock Exchange. ................ source: Bloomberg News
Comment by cookie at 8:42am 10th July 2008
I have to say that personally I dont really care. I've never been convinced by the 'dream pc' market... if I want to psend that much on a special pc I'd rather build it... and I've never particularly liked Vadim's designs aeshetically.
Comment by NewParadigm at 4:59pm 9th July 2008
I want to make an offer for Vadim Computers brand. £100 seems fair, given the fact the company is worth less than that.
Comment by bl4ckwizz4rd at 12:52pm 9th July 2008
I placed an order two days before they folded. I got loads of initial emails and then silence. I only found out what had happened when I checked the website for an order update. Now I'm dealing with the Liquidator and my credit card company to try to get my money back. I am feeling seriously ripped off by this
Comment by riahannon at 12:47pm 9th July 2008
Correct, I believe the case was being custom made by Lian Li, and is based on their V2100.
Comment by Sifter3000 at 10:49pm 8th July 2008
Is it just me, or does that case simply look like a slightly remodelled Lian Li?
Comment by jonlumb at 7:37pm 8th July 2008
Really didnt see that one coming damm, real shame for them. Just a bit in the dark about what happens to the 18 months of my warranty now.... was planning some upgrades "with the free Labour".
Comment by bboyflava at 7:49pm 8th July 2008
Is it just me, or does that case simply look like a slightly remodelled Lian Li?
Comment by jonlumb at 7:37pm 8th July 2008
So I was looking at a Vadim for months, finally decide with the gtx280 it was time to buy... and literally 7 days after my order goes through they go into liquidation :( probably going to be a long painful process to get my money back, if i get any at all.. would rather have the pc tho!
Comment by sclarke at 6:07pm 8th July 2008
As an enthusiast 1st, I'm saddened to hear of a British tech company going under which delivered great products, and my thoughts go out to the staff of the company. Mike
Comment by CyberpowerUK at 1:03pm 8th July 2008
Thank god im a picky git! was about 3 days away from wither buying from vadim or overclockers. i would have used my normal bank card aswell so doubtfull if i would have got my pc or my money back.
Comment by garrynicol69 at 9:22am 8th July 2008
They tried to eat something too big to swallow - the expensive case project. Very sad they're leaving us.
Comment by bl4ckwizz4rd at 9:21am 8th July 2008
They are expensive but you're paying for the time and effort that goes into building these incredibly complex manchines (the same goes for all the Dream PCs) not to mention the time taken to tweak them to the max and get them stable. Add a custom paint job and the very best components and you will inevitably pay far more (and get far more) than your average £1500 high end PC. To get the parts, build the machine and cooling system, leak test, install software and overclock + stress test takes many many hours. As mentioned in the article they will be continuing with the Blastflow blocks.
Comment by combatus at 8:17pm 7th July 2008
Well I would never buy a PC from a manufacturer, but its dissapointing to see the Aston Martins of the PC world "OverHeat"
Comment by NikoBellic at 7:30pm 7th July 2008
they were the best well thought out good looking pc out there but you cud build it cheaper wich is half the fun in my book its sad to see another compony go down tho sad sad
Comment by damafia at 6:35pm 7th July 2008
But i hope they manage to do the honourable thing and send out the pcs ordered from them in June.yes their pcs were expensive..upto a point..But only if you wanted the mega hi end stuff....Tis a sad day
Comment by dangerdaz at 6:25pm 7th July 2008
Honestly why would some one pay for one for there PC's 5000 - 20000 for parts worth lets be honest 1900 - 3500 pounds. Coolness and ease are worth paying for but 3100 - 16500 i expect to have my own tec girl to fix my pc on call all day (or at least 9 till 5).
Comment by Cool_CR at 6:09pm 7th July 2008
As a great fan and friend of all the guys at Vadim, this is really sad news. You couldnt meet a more friendly and talented bunch of guys (and gal). Keep your chins up lads.
Comment by VadimWolf at 6:03pm 7th July 2008
There pc's were truely stunning, I still look back in issue 50 to admire it now :( I guess the market for spending 20k on a pc wasn't really there. Im pleased blastflow is still going, they've got a number of interesting products :)
Comment by Technokid06 at 5:50pm 7th July 2008
and it is upsetting news, but another factor was no doubt the fact that they often heavily over-charge for products and services.
Comment by D_Cypher at 5:41pm 7th July 2008
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