If they have gone down the pan, it's stupid that you can still buy items off their website this afternoon!
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.
Steve
Floccinaucinihilipilificator.
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.
'It may be that your sole purpose in life is to serve as a warning to others'.
I went there today - before i read this post.
it was late too but the doors were open so i called in to ask what their opening times were ordinarily. They gave me their times and said they would be open next week If I would like to come back.
They said they were closed this week for stock taking and there were some
A4 printed notices taped to the gate to this effect too.
No mention of auditers/administration etc. the car park was pretty full of cars though for that time - must be well past 5.30 when I got there and no one seemed in a hurry to shut up n go.
In a battle of wits I refuse to engage with an unarmed person.
To one shot one kill, you need to seek the S. Kill only comes from Skill
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!
BSA Ultra .177 Regged Nightforce 2.5-10x24
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.
'It may be that your sole purpose in life is to serve as a warning to others'.
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?
Steve
Floccinaucinihilipilificator.
I went down to Litts this morning as I have a big Nikko scope 10-50x60 in for repair. Big notice on the gate saying closed for stocktaking, but talking to a dealer waiting outside who had supplied Litts with £120 grand of shotguns, they have gone bust.
I was told to contact a John Bright of Highland Sports, as probably that is where my scope was sent for repair, but I have no address or phone number.
Anyone out there who can supply me with the details, I would be very grateful
A slight addition to Turin's post. I don't think it will be necessary to PROVE ownership in most cases. Register the fact of ownership certainly but PROOF is something else entirely.
If it were me I would email and write to the administrator-once I know who that will be-and state that I xyz am the owner of air rifle abc with serial number 1234567 which was deposited with Litts for service/transmission onwards or whatever it may be. In the case of items without a serial number-such as scopes-a description should be sufficient e.g 'Simmons 3.5-10x50 unboxed in for replacement of smashed rear lens' something that identifies it pretty clearly from ones that are company stock.
'It may be that your sole purpose in life is to serve as a warning to others'.