Systemax has sold its European Technology Products Group which includes the long-established Misco UK to Hilco Capital, which specialises in underperforming or failing businesses. It has previously bought HMV, the UK retailer, and Staples in the UK (now renamed as Office Outlet) as well as Habitat. Systemax believes that this has meant that its successful business in France can further develop. One source said that Systemax “have offloaded the toxic bits”.
Systemax has restored HMV to profit, although a separate Canadian business is closing down.
