Australia’s once-thriving tech retailer Mwave has officially entered voluntary administration, according to filings made with the Australian Securities and Investments Commission (ASIC) on 13 June 2025. The move marks a significant turn for the online PC and peripherals giant, which has long been considered a go-to destination for tech enthusiasts, gamers, and professional users.
Founded in 2006 by Victor Lee, Mwave built its reputation as one of Australia’s premier online tech retailers, offering everything from custom gaming PCs and laptops to software, components, and peripherals. With a client base ranging from individual consumers to government agencies, Mwave had successfully carved out a niche as a reliable and award-winning player in a competitive industry.
What Happened to Mwave?
The voluntary administration was initiated by Mwave’s parent company, Esel Pty Ltd, and registered by Antony Resnick, a liquidator from dVT Group based in Parramatta. Resnick, along with Henry Lo Leung Kwok, has been appointed as the joint administrator.
At this stage, the extent of the company’s debts is still unknown. Neither the total owed to secured or unsecured creditors nor the reasons for Mwave’s financial decline have been publicly disclosed. As of 16 June, Mwave has not issued any public statement on its website or social media platforms.
The silence has left many customers and industry stakeholders speculating about the future of outstanding orders, product warranties, and existing commercial agreements. CRN Australia and ARN have reached out to Mwave and the administrators for further comment.
A Long History in Australia’s Tech Landscape
Mwave’s fall into administration comes as a surprise to many, especially considering the company’s standing within the tech and gaming community. Over the years, it has won multiple industry accolades, including recognition from CRN’s Fast 50 and being named Ecommerce Partner of the Year by Schneider Electric for Australia and New Zealand in 2023.
The company was also recognised for its government dealings, having been awarded over $2.4 million in tenders across more than 60 contracts listed on AusTender. This steady stream of contracts showcased Mwave’s ability to deliver not only to retail consumers but also to institutional clients.
In 2020, the business gained further momentum when it attracted backing from Anacacia Capital, one of Australia’s leading private equity firms. The undisclosed investment, drawn from Anacacia’s $300 million Private Equity III LP fund, was seen as a move to drive further growth and expand Mwave’s reach within Australia and beyond.
What Made Mwave Stand Out?
Tech-savvy Australians often turned to Mwave for its extensive product range, competitive pricing, and a reliable delivery network. Its portfolio included partnerships with major vendors like Apple, ASUS, AMD, Intel, Western Digital, MSI, HyperX, TP-Link, and many more.
The site was particularly popular among PC builders and gamers, thanks to its custom PC configuration tools, frequent promotional sales, and a strong presence in forums and tech communities. Mwave became synonymous with quality tech service, making its sudden financial troubles all the more surprising.
Industry Implications and What’s Next
While Mwave’s future remains uncertain, its voluntary administration reflects broader pressures faced by Australian retailers in a turbulent economic climate. Rising import costs, supply chain challenges, and increasing competition from global e-commerce giants like Amazon may have contributed to the company’s strain.
The appointment of external administrators signals that a strategic assessment of the company’s financial health and business model is underway. Voluntary administration allows for a possible restructure or sale of assets, but it could also result in liquidation if no viable path forward is found.
For now, consumers and suppliers are left in limbo. Many customers are reportedly trying to contact the retailer for updates on existing orders or refunds, while suppliers are seeking clarity on pending invoices and product returns.
A Legacy in Limbo
It’s too early to say whether Mwave will be able to bounce back from this situation. What’s clear is that its contribution to the Australian tech ecosystem has been significant. For almost 20 years, Mwave helped define how Aussies shopped for technology — delivering high-end components, expert guidance, and a user-friendly e-commerce experience long before many others.
Whether it manages to re-emerge from administration or fades into the annals of Australia’s retail history, Mwave’s story is a powerful reminder of the challenges facing even the most established players in today’s rapidly changing business environment.
Final Thoughts
As the tech industry and it’s loyal customers await updates, all eyes will be on the dVT Group administrators and any potential suitors or restructuring strategies that may surface. For now, it’s future hangs in the balance — and with it, a significant chapter of Australia’s online retail history.
