Have DJ Litts gone bust?????????????

[Rapidnick]

I dont think so no!
If they have its probably because of their shocking customer services.
Apparently they have to take £10,000 a day to make it pay for itself!! This is why they are so rude to us "poor" air gunners.
They were open as usual on the weekend though.

Andrew

£3.6million-OK £2.5million excluding weekends- a year to break even? I find this number quite hard to believe. After all the shop is on an industrial estate not on a posh high street.
Anyway I hope they are OK.

[Andrew Richards]

they have gone bust. Its official. Good heavens.

[Andrew Richards]

LITTS HAVE GONE BUST
Mr Litt was escorted from the building yesterday by the auditors.
Apparently £25million pound was invested and now its all gone

OH DEAR!!!

[Gold]

who are litts ?

[Andrew Richards]

who are litts ?

D J LITTS NEWPORT. Gun dealers.
www.litts.co.uk

[Raygun]

Litt's seemed to advertise an awful lot. I'm guessing that a good percentage of their business was via mail order. It's probable that the VCR Act has had a great effect.

This does highlight the fact that we have to support our gunshops or we will lose them. JSR must have lost turnover due to the Act but as a first class supplier it looks like he will be able to carry on without selling airguns.

Pity to see any business go under.

ATB
Ray.

[tripod]

ah well, what goes around comes around

[TURIN TURAMBAR]

D J LITTS NEWPORT. Gun dealers.
www.litts.co.uk

Now "Gone Dealers"?

Oh I'm sorry black humour is not allowed on this forum!!!!!!!!!!!!!!!!!1

[ikarma70]

just proves that not all gun laws are good ones

[TURIN TURAMBAR]

Mr Litt was escorted from the building yesterday by the auditors.
Apparently £25million pound was invested and now its all gone

Interesting, if this actually happened?

Financial impropriety/maladministration?

It could be that they are trying to sell the business as a going concern - Administrative Receivership.

Anyone who has a gun in there (say for repair) or other items that they own (and can prove ownership) will normally be returned to them after an audit and listing of the total assets and liabilities. You should find out who the receiver (or whatever) is if you have assets in the shop - usually a firm of accountants or similar who is independent of the company and its normal auditors or it may be an Official Receiver - you should lodge your interest - eg I have a Weihrauch hw 35 serial no. etc in there for repair. If you don't do this and company records are inadequate or non existent you may not get your property back - it may be sold to realise money for preferential creditors - tax, vat, ni etc.

[Rapidnick]

Interesting, if this actually happened?

Financial impropriety/maladministration?

It could be that they are trying to sell the business as a going concern - Administrative Receivership.

Anyone who has a gun in there (say for repair) or other items that they own (and can prove ownership) will normally be returned to them after an audit and listing of the total assets and liabilities. You should find out who the receiver (or whatever) is if you have assets in the shop - usually a firm of accountants or similar who is independent of the company and its normal auditors or it may be an Official Receiver - you should lodge your interest - eg I have a Weihrauch hw 35 serial no. etc in there for repair. If you don't do this and company records are inadequate or non existent you may not get your property back - it may be sold to realise money for preferential creditors - tax, vat, ni etc.

This is a very helpful post. All those affected should take action to protect their position. If anyone finds out which firm is doing the Administration please post it on this thread. It will normally be posted on the door pretty quickly so those members in Newport please keep checking.

[Andrew Richards]

This is a very helpful post. All those affected should take action to protect their position. If anyone finds out which firm is doing the Administration please post it on this thread. It will normally be posted on the door pretty quickly so those members in Newport please keep checking.

I am working around the Newport area tomorrow. If I am able to I will pop in and have a look and post it ASAP.

Cheers

Andrew