If you have seen chains of Twitter of American streamers with a large number of the viewers, you will probably come across artesian constructions. This company has become very popular on said platform, offering streamers and interested parties their personalized gaming computers. However, his fame did not last long, as a few months ago Artesian Builds went bankrupt and has now decided to auction off thousands of PC components to pay off the debt.
Artesian Builds is one of those rare cases where a seemingly unknown company becomes hugely popular in a short period of time. The platform that made this possible was Twitch, where the company maintained a good relationship Yes Communication with various streamers. However, at the beginning of 2022 there were already signs that it was not going well, being the 8 March The day when hill suddenly and laid off 50 employees of Carolina and North Carolina.
Noah Katz’s mismanagement resulted in $1.37 million in debt in unfulfilled orders
It was the decision of the owner and CEO of Artesian Builds, Noah Katz, who, faced with bankruptcy, decided to close the company as soon as possible. What is curious is that the statement was made public after a live broadcast in which raffle a gaming computer top of the line. This giveaway was very controversial, as it caused a wave of refunds after it was released. In an attempt to save himself, he turned to California bankruptcy law, with more than $3 million in Passives.
To these should be added $1.37 million for unfulfilled orders and refunds. According to his former employees, this huge amount of money owed stemmed from mismanagement on Katz’s part. Although it is difficult to understand how they got so much debt, the company has already lost $1.6 million the previous year, so I was already on a losing streak. For this reason, and to get out of this critical situation, his master plan is to sale fundamentally everything to get out of the pothole.
Starting with the auction, they must sell the company name, domain, and trademarks. However, they must also sell the List of customers and influencers registered by the company. If this is done, it could have a very negative effect on the privacy of these people and could fall several complaints about. In addition, the sale of your private information, such as your emails electronics or even address.
Following Artesian Builds’ bankruptcy, the company had $917,595 worth of PC components
Let’s now move on to the second phase of the auction and the one that interests us the most, the sale of the components of Material. The penalty $917,595 After the bankruptcy of Artesian Builds, the company sees the possibility of getting out of this situation if it sells its excess stock. The complete set consists of a total of 2,249 components computer that includes any type of hardware needed to assemble a PC.
We thus have the entire lot of PC hardware at auction consisting of:
- 43 incomplete computers.
- 59 GPUs.
- 167 hard drives and SSDs.
- 219 ram kits.
- 283 cooling systems.
- 346 base plates.
- 359 power supplies.
- 360 processors.
- Boxes of 413 pieces.
However, don’t get too excited, none of these items are worth bidding on, as the auction will be held via Zoom to the highest bidder, with an increase of offer of $5,000 or more. Therefore, the only beneficiaries in this situation are companies that want to buy lots of inventory or the market OEM. In addition, with this bankruptcy, Artesian Builds will also auction the computers and office tools that still remain in their offices. carolina.
With all this, it is expected that the debts will be paid in order of importance, where the creditors secure to insecure. Thus, consumers remain in the latter position, doubting that Artesian is paying them for their lost money. This situation would occur in the event that Artesian Builds manages to repay its debts, but does not have enough money for its enrages. consumers.