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

[Rapidnick]

Many years ago my brother was working for a fork lift truck hire/sales/repair company that went bust, the recievers turned up, kicked everyone out and changed the locks, his push bike was in the unit and they would not give it to him. if it was in the unit they kept it and sold it at auction the following week. now we all know this was wrong but if i had any thing in there i would be panicing!

The administrator would be in deep doo doo if he did this with rifles in storage with the company but not owned by it. They have serial numbers and thus a 'trail' of ownership. My advice is 'don't worry unduly but make sure you contact the administrator by email and recorded delivery post to register your ownership of such an item'. First step is to find out the identity of the administrator.

[TURIN TURAMBAR]

QUOTE=Rapidnick;2684932]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.[/QUOTE]

Thank you Rapidnick.

It is a while since I dealt with receiverships, liquidations, bankruptcies etc etc. Came across it a lot in an old job I had which involved paying companies grants. Loads of companies went bust and we had to lodge our "interest" with the receivers/liquidators etc. I'm a bit rusty on procedure.

If you don't lodge a letter (and proof of your ownership) then clearly your assets will be disposed of to realise funds to pay of creditors. You have to keep reminding them as well if no answers from the receiver - call at office if it is local and it usually is. Apathy in non letter writing will lose your assets!

They cannot dispose of assets belonging to a third party. We had a local garage went bust some years ago. People with cars in for servicing or ones they had purchased and registered and were just awaiting delivery got them back after the stocktaking assessment.

Sounds as if company in this case is going to stumble on? Of course the stocktaking will happen to assess full worth of company in assets and on paper. They will not let public know the full truth to keep up customer confidence - especially if it is viable.

It's a complicated business. I take it that it was a limited company or plc and not sole proprietor/partnership? The directors or owners are excluded to avoid cover up etc etc. It might end up as a management buyout or workers buyout if things look viable. If the customer care was lacking then that is an area that pays dividends - we all go back to a place where we get good service?