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Warning of Liquidation??
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11-30-2009, 06:01 AM | #1 |
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Warning of Liquidation??
Is there any way of getting an early warning that a business is about to go ito liquidation???
I ordered a few pairs of heavily discounted designer sunglasses from 'Brand Alley' over a month ago but these have not yet arrived. Their procedure is to collect the money on order as opposed to dispatch and so I've got nearly £300 collecting interest on my credit card with nothing to show for it (didn't realise this before due to usual prompt dispatch). They have been in touch with me via e-mail apologising for the continued delay but I'm starting to get twitchy. Two days ago I got a letter telling me that the bathroom company who were holding my £1,000 deposit has gone tits-up so am obviously now paranoid of everything. Luckily I'd paid this deposit on the credit card so doesn't look like there will be any problems in getting it back; eventually. Just now concerned this, pretty unacceptable, delay is due to them having no cash. Any way of checking a company's finances out as I may just cancel the order (again I've used my credit card so am not too worried). CAVEAT - I'M NOT SUGGESTING IN ANY WAY THE BRAND ALLEY ARE IN ANY DIFFICULTY AND THIS MAY SIMPLY BE A LEGITIMATE STOCKING ISSUE (I'm just a little pannicy at present).
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11-30-2009, 07:00 AM | #2 |
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Seems like the panic is over. A very kind forum member has provided me with some information to calm my nerves - I look forward to receiving my new sunglasses (maybe in time for the summer!!).
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11-30-2009, 07:00 AM | #3 |
smokin' kipper
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I've run a credit check on them and all looks OK.
They have a credit rating of 92/100 and a lending limit of £165,000. No CCJs entered against them. No financial info exists pre 2007. However, they did make a loss of £4.5m year to Dec 2008. They are a subdivision of New Corporation. The above info is all publicly available. But, who knows really? If you contact your credit card company to say that you haven't recived the goods from them yet they will place the transaction "in dispute" and you will not be charged interest. You can then cancel the order and wait for your refund (if you don't get refund your card issuer will refund it anyway after 30 days), or wait for the goods and let your card issuer know when goods have arrived and they will then add it back to your statement. In general it is always best to pay for anything on your credit card to gain the additional protection it brings - particularly online. Never use a debit card as this has zero protection. |
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11-30-2009, 07:03 AM | #4 |
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Garage List 2008 350Z GT Roadster [2.00]
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Thanks Metz. Similar information that I was given. Nice one .
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11-30-2009, 07:28 AM | #5 |
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Any info given now via online credit checks is frankly worthless as it will be old. You need to see very recent audited accounts and up to date monthly management accounts. I have recently researched companies where the online systems show they should be good for credit of 500,000 and then found out from people holding up to date detail that their credit worthiness is now zero. We are living in rapidly moving times so any public info is not that useful.
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11-30-2009, 07:31 AM | #6 | |
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11-30-2009, 07:55 AM | #7 | |||
smokin' kipper
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11-30-2009, 07:58 AM | #8 |
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Can you find out from your systems where my sunglasses are
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11-30-2009, 09:53 AM | #12 |
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Up to date Management Accounts and Confidential information are made available to credit insurers by Companies in an attempt to maintain their credit ratings with these people. In my recent experience this is the only source of valuable information but yes you do have to be a client paying a fee to tap into this detail.
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11-30-2009, 11:02 AM | #13 | |
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11-30-2009, 02:14 PM | #14 | |
smokin' kipper
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If you've got no cash you're clearly going to try and stay UNDER the radar (if you're that way inclined). The dodgy ones are usually the ones with CCJs mounting up, zero cash balances at end of year, directors with multiple business - many already dissolved or similar name, but recently formed. This is the info that is useful from a paid subsctipription to a decent credit scoring agency in deciding a credit risk. |
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