Bankruptcy administrators for BenQ Siemens say they have given up the search for a buyer to take over the business, five months after BenQ Mobile filed for the insolvency of its German business.
BenQ Mobile's insolvency administrator Martin Prager said "From what I can tell there is now no chance of the company being sold as a single entity and relaunched. We have to acknowledge that the market has decided against BenQ Mobile."
Many interested parties and groups of investors had shown interest in buying BenQ Mobile Germany, but all were rejected by the insolvency administrator or creditors' committee, most for inability to prove they had the necessary financing, or balked away from any deals after discovering the huge financial troubles afflicting the firm.
Small assets of the former Siemens business that proved unable to stand up to competition from far bigger rivals are set to be sold through online auction house eBay and the insolvency administrator's Website.
Office equipment including whiteboards, computers, desks, and even potplants are currently available on eBay starting at bids as low as one Euro. Larger items such as factory-production equipment would be sold on the second-hand market.
All money collected from the asset sales will go to the handset manufacturers creditors, mainly chipmaker Infineon and credit-insurance company Euler Hermes.
BenQ took over the troubled Siemens mobile phone division in 2005 but gave up on turning the business around a year later in the face of fierce competition from industry giants such as Nokia and Motorola.
Many interested parties and groups of investors had shown interest in buying BenQ Mobile Germany, but all were rejected by the insolvency administrator or creditors' committee, most for inability to prove they had the necessary financing, or balked away from any deals after discovering the huge financial troubles afflicting the firm.
Small assets of the former Siemens business that proved unable to stand up to competition from far bigger rivals are set to be sold through online auction house eBay and the insolvency administrator's Website.
Office equipment including whiteboards, computers, desks, and even potplants are currently available on eBay starting at bids as low as one Euro. Larger items such as factory-production equipment would be sold on the second-hand market.
All money collected from the asset sales will go to the handset manufacturers creditors, mainly chipmaker Infineon and credit-insurance company Euler Hermes.
BenQ took over the troubled Siemens mobile phone division in 2005 but gave up on turning the business around a year later in the face of fierce competition from industry giants such as Nokia and Motorola.