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RetroPlay has gone into liquidation


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Not sure if many of you have heard, or if anyone has anything ordered from them, but RetroPlay has apparently gone into liquidation.

https://publishednotices.asic.gov.au/browsesearch-notices/notice-details/RETR0PLAY-PTY-LTD-637461968/bd6fd1f6-6877-4433-ab2e-d2628723644d?appointment=All&noticestate=All&companynameoracn=retr0play&court=&district=&dnotice=

I saw this information on one of the Facebook groups so just sharing what I've seen.

 

https://www.insolvencynotices.com.au/noticeSummary/retr0play-pty-ltd

 

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Pretty bad.  Looks like a lot of people had machines on order and had paid upfront.  From his youtube videos he was going through a lot of family issues the last few years but the business seemed to be quite busy.

Going to be a lot of unhappy customers.

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God, another one of these companies ripping people off. This sucks 😞 I'd love to get a good VP one day, but there seems to be no one you can trust to build and configure them. The ones up in QLD are all dodgy bastards as well, so many horror stories.

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Building your own is definitely the way forward Pat. That's how I did mine, but now I need to make another.

RetroPlay pissed off the VPin community, as do many others as they go against what the communities want, but to be honest, I am surprised that he has done some of the stuff that is being said now.

 

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6 minutes ago, redferatu said:

Ill take your 10k deposit and then ghost you for a year if you want Pat

Wow, I don't know how I can turn that offer down! Sign me up!

4 minutes ago, JustAnotherRat said:

Building your own is definitely the way forward Pat. That's how I did mine, but now I need to make another.

 

Sadly, I just don't have the time, motivation or skills. I would love a really nice, 4k 3-screen, high end PC model with solenoids, nudge capabilities etc. However, it seems to be impossible to find anyone to trust to actually build a good machine, that won't break down within 6 months of buying it. I'd consider selling one my pins to fund a nice VP, but the entire market seems like an absolute minefield.

 

 

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21 minutes ago, JustAnotherRat said:

Building your own is definitely the way forward Pat. That's how I did mine, but now I need to make another.

RetroPlay pissed off the VPin community, as do many others as they go against what the communities want, but to be honest, I am surprised that he has done some of the stuff that is being said now.

 

I think most people have the same problem I do, that is we can build the actual physical machine, but the configuration of the computer and tables is like someone talking a whole other language, this is where they get sucked in to these places who offer turnkey machines, but then dont deliver what they advertise.

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3 minutes ago, namastepat said:

Sadly, I just don't have the time, motivation or skills. I would love a really nice, 4k 3-screen, high end PC model with solenoids, nudge capabilities etc. However, it seems to be impossible to find anyone to trust to actually build a good machine, that won't break down within 6 months of buying it. I'd consider selling one my pins to fund a nice VP, but the entire market seems like an absolute minefield.

 

 

I get it. My new build hasn't started yet but it's on hold. I will make another one one day. It will be 4K and 3 screen but I probably won't bother with solenoids. Nudge will definitely be there, I don't see why you'd make one without it to be honest as most controllers have it built in and I'll have exciter speakers etc. to give it some feedback.

I loved having one and will definitely save a space for a new one so I can build it.

The thing about RetroPlay (Dave) is that I thought as an onlooker he was trustworthy, I did get told some negative things about him recently though and that was from a reliable source and I believe other comments now reflect what was said.

I agree, the builder situation in Australia is a minefield. I know some that I definitely wouldn't trust. You can chat to @OzStick though if you are interested and he might be able to help you out.

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1 minute ago, prktkljokr said:

If there was someone who offered configured computers with tables on them, I am sure they would sell to the people who can make stuff but are not computer savvy

There are lots of people that offer pre-configured SSDs with all the tables, artwork etc. However, the final step of installing that in your own PC is still fraught with difficulties unless you are properly tech savvy. 

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The configured PC is one thing, but having the tables (pinheads hate that they get called tables) on them is where the community will turn on you.

There is definitely a learning curve when it comes to adding games, but it's actually not that hard. It's much easier than it used to be too. There are plenty of people willing to help others get set up. If you can build a cab and buy the computer etc. Getting it going is (kind of) the easy part.

Just now, namastepat said:

There are lots of people that offer pre-configured SSDs with all the tables, artwork etc. However, the final step of installing that in your own PC is still fraught with difficulties unless you are properly tech savvy. 

Most people in the hobby strongly recommend against pre configured drives. They rarely are configured in a way that will just play nicely and often have a heap of crap on the drives and from what I've heard in many cases trojans and the like as they've been downloaded from questionable sources.

Put one game on at a time and configure it until you're comfortable. The truth is, doing it this way you appreciate the games more and play the ones you have. I did grab a pack from a very reliable source that was put together very early in the piece and managed to get it working but still ran into the occasional problem and by the time I got around to playing many of them, there were newer, better versions available for download.

My advice, take it slow and learn how it all pieces together. I won't cover it all in this thread as it's the wrong place to do it, but happy to share what I know and there are plenty of good guides out there.

 

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2 minutes ago, JustAnotherRat said:

The configured PC is one thing, but having the tables (pinheads hate that they get called tables) on them is where the community will turn on you.

There is definitely a learning curve when it comes to adding games, but it's actually not that hard. It's much easier than it used to be too. There are plenty of people willing to help others get set up. If you can build a cab and buy the computer etc. Getting it going is (kind of) the easy part.

LoL, for you maybe, I am ok on a computer when it comes to Mame, I do struggle some times getting games to work, but the VP is a whole different learning curve I just cant seem to get my head around.

 

Quote

There are lots of people that offer pre-configured SSDs with all the tables, artwork etc. However, the final step of installing that in your own PC is still fraught with difficulties unless you are properly tech savvy. 

Yeah I have seen a few, but like you say the set up is what will stump me, so I just dont.

I am one of the ones that will buy one one day, from that I would be able to copy what has been done, but starting off cold I have no hope. 

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1 hour ago, prktkljokr said:

LoL, for you maybe, I am ok on a computer when it comes to Mame, I do struggle some times getting games to work, but the VP is a whole different learning curve I just cant seem to get my head around.

There are a few bits and pieces, but as long as you learn what each part does (which doesn't take long) it starts to make sense.

 

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Been thinking the same Pat, maybe we can wrangle Andy and build a couple!

I'd base it off the recroom games monster in the USA.

https://www.recroomworld.com/UltraVP_Info.html

But I really want to try a maxed out one first to see it in the flesh. 

 

Bought a full arcade game from Retro, was crap quality build and bs attitude after the sale. Hope he's gone for good.

 

 

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I have been tempted to make a modern design that takes up less space and makes it all easier to work on. If I do I was going to make one for my dad also. If you guys want we could do a community build, get the same gear and then set up is essential the same. I made a wide body from scratch and the weight, legs, wasted cavity space, etc. Just make the thing a pain when it could be heaps smaller with no ergonomic difference.

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20 hours ago, prktkljokr said:

So was he still trading while insolvent? taking new orders while going down the chute.

Easy to sit in judgement without knowing the full details. Whilst I'm in no way an apologist for Dave (nor any others catering to the same niche market), as a small business owner I can empathise with his situation.

The last 3-4 years have been weird to put it mildly. When Covid first hit, there was much concern that sales would dry up as punters would need to tighten their spending, however with lockdowns many hobbies boomed, including ours and the VPin guys were utterly inundated with orders. They expanded accordingly and started increasing their stock on hand at which point we started seeing shortages which we now ALL know about an despise.

So on the back of being swamped with orders, none of which they would've wanted to say no to, they were finding stock difficult to secure so that's when order ETAs would have started to blow out. I can personally attest to how difficult that situation is  - trying to appease customers whose orders you can't fill right now as you are "waiting for new stock to arrive". It's still happening now and is just as difficult.

What's happened more lately I have no idea about as far as Retroplay in particular is concerned, however it's upsetting to read a lot of comments more or less labelling these guys as criminals or, as directly quoted from the Facebook group @Davefjedi referenced above, scammers. NOBODY builds up a business over the course of 8-odd years with the intention of scamming anyone and whoever the mod of that group is should be advised that such a claim is slanderous and that the message should be removed or altered! I understand that quite a few people have been left out in the cold and out of pocket, but it doesn't excuse them from making defamatory comments.

I've probably said enough for now, so I'll just add that I personally hope that the RetroPlay Administrators will allow Dave to continue trading for a while, so he can fill as many VPin backorders as possible.

 

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in general these things are often triggered by well meaning people getting behind and then the ATO or the landlord arriving at the door and saying enough is enough.  Its usually either the liquidator or sell the house. not a pleasant choice.

Accusation of any sort of impropriety without knowing the details isnt cool.  People need to realise defamation cases costs 10's of thousands in court costs to defend even if you do get off.

if you're owed a product of any sort you're now an unsecured creditor.. Make absolutely certain you do all the paperwork for the liquidator or you wont get a cent. just having placed at order is not enough.

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1 hour ago, JustAnotherRat said:

Not sure if there is more to this but Retroplay seems to have only existed since the end of 2019, so really only 3 years.

 

He has YouTube vids going back 6 years but has been in operation longer than that.

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8 hours ago, OzStick said:

Easy to sit in judgement without knowing the full details. Whilst I'm in no way an apologist for Dave (nor any others catering to the same niche market), as a small business owner I can empathise with his situation.

I have had 2 businesses myself 1 small, 1 medium, I always let my customers know if there were going to be any delays with anything regarding their dealings with me, had situations that were out of my control many of times and still my customers ( as they were my bread and butter ) were my first priority no matter what, without them I had no business.

I personally don't know the guy or his situation, but there are so many people sharing their details on their dealings with the business, so if he knew he was in trouble and was still trading and taking deposits and orders knowing this, then that is a breach of trading, ASIC outlines this here

 https://asic.gov.au/regulatory-resources/insolvency/insolvency-for-directors/

 

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Duty to not trade while insolvent

You also have a duty to prevent your company trading if it is insolvent. A company is insolvent if it is unable to pay its debts when they fall due. Before you incur a new debt you must consider whether you have reasonable grounds to suspect the company is insolvent or will become insolvent as a result of incurring the debt.

 

 

From appointing liquidators, this is a known way to keep ASIC at bay, for a little while, but we all know that once liquidators take over they get paid first, then all the plebs get the scraps.

Quote

What to do if you suspect financial difficulty

If you suspect your company is in financial difficulty, get professional accounting and/or legal advice as early as possible. This increases the likelihood the company will survive. Do not take a ‘head in the sand’ attitude, hoping that things will improve – they rarely do. Warning signs of insolvency include:

  • ongoing losses
  • poor cash flow
  • absence of a business plan
  • incomplete financial records or disorganised internal accounting procedures
  • lack of cash-flow forecasts and other budgets
  • increasing debt (liabilities greater than assets)
  • problems selling stock or collecting debts
  • unrecoverable loans to associated parties
  • creditors unpaid outside usual terms
  • solicitors’ letters, demands, summonses, judgements or warrants issued against your company
  • suppliers placing your company on cash-on-delivery terms
  • special arrangements with selected creditors
  • payments to creditors of rounded sums that are not reconcilable to specific invoices
  • overdraft limit reached or defaults on loan or interest payments
  • problems obtaining finance
  • change of bank, lender or increased monitoring/involvement by financier
  • inability to raise funds from shareholders
  • overdue taxes and superannuation liabilities
  • board disputes and director resignations, or loss of management personnel
  • increased level of complaints or queries raised with suppliers
  • an expectation that the ‘next’ big job/sale/contract will save the company.

People who have orders and have paid deposits etc are going to be the losers, but if he was trading as insolvent then he is then personaly responsible as a director.

So my question of if he was trading insolvent, was only to see if he has been taking fresh orders and deposits when he knew he was already broke, no judgment, no slander, no speculation, just a question.

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My mates girlfriend’s son worked at retro play and it was even a surprise to the workers that the place was closing, just before Christmas they were told that next year was going to be bigger and better.

And then just before he was about to come back to work he messaged them all to say come in and grab your tools and whatever else you want, so he scored a few things that we’re pretty cool and now he’s out of a job, and yes it was family related he just didn’t have the time and effort to put into the business due to family reasons.

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