Scottish entrepreneur Tom Hunter’s clothing chain USC has gone into administration.
Iconic china and ceramics firm Waterford Wedgwood has gone into administration after the economic slowdown hit the debt-laden firm.
Deloitte has been appointed as administrator to seek buyers for different parts of the company.
It said failed buyout talks and poor trading meant restructuring could not happen “in an acceptable timescale”.
Wedgwood has also requested that its shares be suspended from trading on the Irish Stock Exchange.
And a receiver from Deloitte has been appointed to Wedgwood’s Irish arm. The brands will surely survive under new owners.
“Waterford, Wedgwood and Royal Doulton are quintessentially classic brands that represent a high quality product which is steeped in history,” said joint administrator Angus Martin.
“The administration team will be working closely with management, customers and suppliers during this time to ensure operations continue whilst a sale of the business is sought.”
The company will continue to trade as a going concern.
Manufacturing jobs
Chief executive David Sculley had earlier said he was “disappointed” some of its UK and Irish subsidiaries had been forced into administration or receivership.
FIRMS IN ADMINISTRATION
Waterford Wedgwood UK Plc
Wedgwood Limited
Josiah Wedgwood & Sons Limited
Josiah Wedgwood & Sons (Exports) Limited
Waterford Wedgwood Retail Limited
Royal Doulton Ltd
Royal Doulton (UK) Limited
Royal Doulton Overseas Holdings Ltd
Stuart & Sons Limited
Statum Limited
But he was optimistic that a buyer could be found for the Waterford, Ireland-based business, known for its Wedgwood pottery, Royal Doulton and Waterford crystal.
In the UK, Waterford Wedgwood employs 1,900 people – of these, around 600 work in manufacturing at Barlaston, Stoke-on-Trent.
The Irish section has around 800 staff based in Waterford.
In total there are 5,800 employees outside the UK with the biggest manufacturing centre being in Indonesia, where there are 1500 staff involved in production.
Wedgwood has been known as an iconic name in British pottery firm for 250 years, with many households in the UK owning one or more of their pieces.
In 1987 it merged with the similarly well-known Waterford Crystal to create Waterford Wedgwood, an Irish-based luxury brands group.
But BBC business editor Robert Peston has said it is “no surprise” that the heavily indebted firm has floundered.
Sir Arthur Bryan demonstrates the toughness of china inside Wedgwood’s factory in 1968
“Waterford Wedgwood’s collapse is a resonant event, that speaks of a noxious global squeeze on consumer spending,” he said.
“Almost everything that it manufactures is a nice-to-have rather than a must-have.
“And most of us are thinking twice about shelling out on nice-to-haves.”
Mr Peston said that although Waterford Wedgwood had more history than most FTSE 100 companies combined, it was not a huge company.
“The brands will surely survive under new owners,” added our business editor.
“However what happens to its manufacturing plant – and that of many other companies like it – is what matters.
The firm will continue to trade as normal
“Even if in Waterford Wedgwood’s case there are just a few hundred British manufacturing jobs at stake, the UK can ill afford to see precious exporting capacity relocated to low-cost, competitor economies. ”
Wedgwood is one of the biggest employers in the Stoke area, said Kevin Farrell, chief executive of the British Ceramic Confederation.
“There have been specific problems in the premium dinnerware market and Wedgwood has not been immune from those problems.
“And we’ve had the period of the credit crunch where really the willingness of people to go out and buy premium dinnerware has been more limited.”
‘Tireless’ efforts
Waterford Wedgwood said it had been focused for some time on the recapitalisation of the company, and, more recently, “on active discussions regarding the possible investment in the company as a going concern”.
But the group collapsed after talks over a possible investment in the business failed and potential lenders’ patience ran out.
Sir Anthony O’Reilly, non-executive chairman of Waterford Wedgwood, said the board had “acted tirelessly in its efforts to resolve the company’s issues as a going concern”.
“The principal shareholders have invested in support of this business for almost 20 years. We are consoled only by the fact that everything that could have been done, by management and by the board, to preserve the group, was done.”
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Tags: royal doulton, Royal Doulton (UK) Limited, Royal Doulton Ltd, Royal Doulton Overseas Holdings Ltd, Statum Limited, Stuart & Sons Limited, Waterford Wedgwood Retail Limited, Waterford Wedgwood UK Plc, wedgwood, Wedgwood administration, Wedgwood Limited
Morgan
02Jan09
From BBC.co.uk
Retailer Morgan in administration
Morgan has been seeking a sale since the start of 2008
French women’s clothing store chain Morgan has gone into administration, the latest retailer to be hit by the sharp fall in consumer spending.
The company, which expects to report a 9% decline in 2008 sales, said it still hoped to be able to sell the business.
Private equity group Apax Partners owns 40% of Morgan, while the firm’s founding families – Bismuth and Barouch – own another 40% between them.
The majority of Morgan’s UK stores closed in April this year.
The small number that remain are licensees.
UK childrenswear retailer Adams also went into administration on Wednesday.
Widely speculated since the weekend, Adams’ 271 stores will remain open while their viability is assessed, but the administrator warned that some closures were likely.
The Nuneaton-based firm, the UK’s largest independent childrenswear seller, employs 3,200 people.
Sector-wide woes
Morgan’s move into administration comes after the same happened to UK retailers Woolworths, Zavvi, Whittard and The Officers Club.
MORGAN FACTS
Paris-based
575 shops
Founded in 1968
The final Woolworths stores are now due to close on 5 January after administrator Deloitte failed to find a buyer for the whole company.
Music and games retailer Zavvi went into administration on Christmas Eve.
Tea and coffee specialist Whittard went into administration before Christmas due to “trading difficulties”, but it was quickly bought for an undisclosed sum by Epic private equity partners.
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Tags: french retail, french retailer, ladies clothes, ladies clothing, morgan, morgan ladies, morgan woman, morgan womens, retail
Tom Hunters USC does pre pack
29Dec08
From the Telegraph..
USC designer clothing chain goes into administration
USC, the designer clothing chain backed by Scottish entrepreneur Sir Tom Hunter, has become the latest high street retailer to collapse into administration.
By Jonathan Sibun
The 58-store chain has appointed accountancy firm PKF to handle the administration after being hit by the consumer downturn.
In a controversial move, Sir Tom’s investment vehicle West Coast Capital will immediately buy 43 of the shops out of administration.
The so-called pre-pack administration will save the jobs of up to 1,000 of USC’s 1,400 staff but 15 of the stores will close with the loss of about 300 part-time employees.
The pre-pack is likely to provoke anger among USC’s suppliers or landlords, some of whom could face unpaid bills following the administration.
USC becomes the latest retailer to succumb to the economic downturn following the collapse of Whittards, the tea and coffee retailer, menwear chain The Officers Club, and Zavvi, the music chain.
Adams, the childrenswear retailer, is set to appoint PricewaterhouseCoopers as administrators this week.
USC, which was launched in 1989 from one store in Edinburgh, stocks brands including Diesel, Henri Lloyd, Ted Baker and Lacoste.
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Tags: clothing, jeans, sir tom hunter, tom hunter, usc, usc jeans
From BBC.co.uk
Adams ‘poised for administration’ |
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UK childrenswear retailer Adams has applied to go into administration, the BBC has learned. It joins a growing list of well-known chains going to the wall as retailers struggle, including Zavvi, MFI, Whittard and Woolworths.
Adams has 260 outlets in its UK chain and 103 internationally, employing about 2,000 people. The firm was bought early last year by Northern Ireland businessman John Shannon, who closed 42 branches. Adams has now applied to the administrators’ court, but has yet to be officially placed in administration. PriceWaterhouse Coopers (PWC) are likely to be appointed administrators and take over the running of Adams until a new owner can be found. A spokeswoman for PWC could not tell for sure when it would be formally appointed. Insolvency fears “They put the thing into court on Christmas Eve but I cannot really say much more than that,” she said. The company, which is celebrating its 75th year, was originally founded in Birmingham. Adams also makes clothes for health and beauty retailer Boots. The insolvency experts Begbies Traynor predicted only a week ago that up to 15 national retail chains would go bust by mid-January |
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Tags: adams, adams kid, adams kids, clothing, kids, kids clothing
Allied Carpets for sale
28Dec08
Wednesday’s Financial Times reported that loss-making Allied Carpets, the second biggest flooring retailer, has been put up for sale by its French owner, Tapis Saint-Maclou.
With consumer confidence dented by crumbling house prices and soaring unemployment, British retailers are experiencing the most difficult trading environment for years and many have already collapsed into administration.
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Tags: allied, allied carpets, carpet, carpets, house, rug
Whittards Of Chelsea
28Dec08
From ITN.co.uk – http://itn.co.uk/news/7a8ac792bd99947f16437e778189649c.html
Struggling tea and coffee merchant Whittard of Chelsea has been placed in administration.
The 122-year-old company is the latest to be hit by the downturn in consumer spending following the recent collapse of retail icons Woolworths and MFI.
The 122-year-old company is the latest to be hit by the downturn in consumer spending following the recent collapse of retail icons Woolworths and MFI
The Whittard name will remain on the high street after administrator Ernst & Young sold the firm to private equity company Epic in a rescue deal.
Whittard has around 130 stores in the UK, employing around 950 staff. It has a head office in London and a warehouse facility in Northampton.
Ernst & Young was also appointed administrator of coffee wholesaler Boaters, which is part of the Whittard group. This was also sold to Epic.
But the administrator said both businesses would continue to operate as going concerns and remain open for trading as usual.
Joint administrator Angela Swarbrick said the firms had been suffering trading difficulties due to the “uncertain economic conditions”.
“Fortunately a deal was able to be done that sees the businesses of the companies able to continue to trade and the Whittard of Chelsea name, with its 122-year heritage, remain on the high street,” she added.
© Independent Television News Limited 2008. All rights reserved.
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Tags: chelsea, coffee, tea, whittard, whittards, whittards of chelsea
Welcome to the Officers Club, it ran into Administration and the day later the Chief Exec bought it back and is hailed a saviour of jobs. What a load of shit!
From the BBC… http://news.bbc.co.uk/1/hi/business/7798565.stm
Officers Club deal saves 900 jobs |
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UK menswear retailer The Officers Club has gone into administration and 32 of its 150 shops will shut immediately, while the remainder have been sold. The retailer was put up for sale by administrators PricewaterhouseCoopers as it fell victim to the downturn. They said the 118 stores had been sold to TimeC 1215 limited, which is backed by David Charlton, chief executive of The Officers Club. He said the deal would protect the jobs of 900 people. The Officers Club was started in the early 1990s in Sunderland. It became one of the biggest retail companies in the UK with flagship stores in London’s Oxford Street and north-east England. The firm’s headquarters is at Cramlington, Northumberland. ‘Employment protected’ “We are very pleased to be able to secure this deal and protect the employment of over 900 people in the stores and head office,” said Mr Charlton. “We welcome the opportunity to take the business forward and look forward to a successful future.” Insolvency experts are warning that more than 10 national or regional retail chains risk going bust next month. Retailers are vulnerable in January because they generally have more cash and less stock than at any other time of the year, so if creditors are going to force them into administration it is the best time to do so. It has already been a tough few months for well-known retailers, with MFI already having closed down and Woolworths due to shut its shops in January. On Tuesday, The Whittard of Chelsea chain of shops was sold to a private equity firm after going into administration. |
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Tags: officers club, officers club shuts
Merry Christmas from ZAVVI!
27Dec08
After Bransons failed attempt to make a success of Virgin Megastores the Management buyout that formed Zavvi have failed at the first hurdle and hit administration on Christmas Eve. Did you see it coming as soon?
From Zavvi.co.uk
Notice to Customers 24.12.2008
What has happened? Zavvi Group Limited
Zavvi Retail Limited
Piccadilly Entertainment Stores Limited
VR Service Limited
Ablegrand Limited
Ablegrand 2 Limited
(together “Zavvi UK” or “the Group”)
Tom Jack, Simon Allport and Alan Hudson of Ernst & Young LLP were today appointed Joint Administrators of Zavvi UK. In addition, Tom Jack and Andrew Dann of Ernst & Young LLP were appointed as Joint Liquidators of zavvi Online (Guernsey) Ltd. At this time zavvi Ireland is not subject to any formal insolvency proceedings. On 27 November 2008 Entertainment UK Limited (EUK), the Zavvi UK’s main supplier, went into Administration. Since this time, the Group has been unable to source stock in the usual way and has been forced to enter into new trading arrangements. The Directors understand it is unlikely that EUK will be sold as a going concern and the Group has continued to experience significant difficulty in obtaining stock on favourable credit terms. In addition, the Group has recently experienced a material fall in revenues due to the abrupt downturn in consumer spending. As a result of the above factors the Group began to experience significant cash flow pressure and ultimately became unable to pay its debts as they fell due.
Purpose of Administration
The purpose of the Administration Order is to realise Group assets for the benefit of its creditors. The Joint Administrators intend to enable the Group to continue to trade whilst seeking a buyer for all or parts of the business. Whilst in Administration, the Joint Administrators are ultimately responsible for Zavvi UK. However, the existing management team will be responsible for the day-to-day running of the Group.
Business as usual
Zavvi UK has not ceased to trade and customers will be able to continue shopping at zavvi stores across the UK and Ireland. Unfortunately, the zavvi website will not be taking any online orders and it will not be possible to redeem vouchers in store. Arrangements regarding returns and vouchers will be communicated separately.
Tom Jack
Joint Administrator
The Institute of Chartered Accountants in England and Wales authorises T A Jack and S Allport to act as Insolvency Practitioners under section 390(2)(a) of the Insolvency Act 1986 and the Association of Chartered Certified Accountants authorises A M Hudson to act as an Insolvency Practitioner under section 390(2)(a) of the Insolvency Act 1986.
The affairs, business and property of the Group are being managed by the Joint Administrators T A Jack, S Allport and A M Hudson. The Joint Administrators act as agents of the Company only and without personal liability.
2. Customer Frequently Asked Questions
Q: I have a Zavvi gift voucher, can I redeem it? It is expected that all customers who purchased zavvi gift vouchers from zavvi stores from 27 November 2008 will receive a full refund in respect of the unredeemed value of the gift vouchers. Unfortunately, it is not possible for vouchers to be redeemed in stores.
All customers who have unredeemed vouchers acquired since 27 November 2008 should write to the Joint Administrators at the following address, quoting their voucher number(s), enclosing the original voucher(s) and quoting their full name and address for return correspondence:
zavvi Vouchers
c/o The Joint Administrators of zavvi Group
Ernst & Young LLP
100 Barbirolli Square
Manchester
M2 3EY
We recommend that customers keep a copy of vouchers for their records.
Regrettably, it will not be possible to refund vouchers acquired prior to 27 November 2008. Customers with unredeemed vouchers acquired prior to 27 November 2008 should write to the Joint Administrators at the above address, asking for their claim to be registered as an unsecured claim.
Please note, due to the large volumes of vouchers that are currently outstanding it is not possible to discuss individual customer queries in person at this stage.
Q: Will any zavvi stores close?
It is too early to say. This will depend on the ongoing trading results of zavvi and any potential sale of the Group’s business and assets. Stores in Liverpool (Clayton Street), Southampton and Aberdeen Bon Accord are expected to close on 30 December 2008, 31 December 2008 and 13 January 2008 respectively, as planned by the Group prior to the Administration.
Q: How will the Administration affect the returns policy?
The Joint Administrators will accept returns to store of faulty goods or the return to store of unwanted goods within 28 days of date of purchase, on the following basis:
* Customers shall be allowed to exchange goods with an identical direct replacement, or for an alternative up to the same value based on current selling prices. An item returned may not be exchanged for more than one replacement.
* For all returns with a value per customer in excess of £50, proof of purchase must be provided. In such circumstances, customers shall be allowed to exchange these goods with an identical direct replacement, or for alternative goods to the same value based on current selling prices.
* Proof of purchase may still be required for returns below £50 per person at the store manager’s discretion.
* Where goods benefit from an original manufacturers warranty customers should contact the original supplier directly regarding the exchange / replacement of faulty goods.
* No cash refunds will be given for any returns, or for the difference between original purchase price and the replacement item.
* Customers shall be required to pay the excess if the price of the replacement selected exceeds the item returned. Any customers unable to exchange items in accordance with the above policy or with an outstanding claim that has not been satisfied under the above policy should write to the Joint Administrators at the following address, enclosing details of their claim together with original proof of purchase and quoting their full name and address for return correspondence:
zavvi Returns
c/o The Joint Administrators of zavvi Group
Ernst & Young LLP
100 Barbirolli Square
Manchester
M2 3EY
Q: I have a problem regarding Virgin Mobile concessions, who should I speak to?
Virgin Mobile concessions (Virgin Media) operate from a number of stores. This company is not in Administration and the employees are not employed by the zavvi Group. All enquiries relating to Virgin Mobile/Virgin Media should be directed to that organisation.
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Tags: e-uk, entertainment uk, euk, virgin mega store, woolies, woolworths, zavvi, zavvi close
Woolworths / EUK
27Dec08
The legend that is Woolies has now hit the wall after being opened for 99 years!! (and you can even buy the pick and mix stand now they have started selling the fittings! woohoo!) It includes sister company Entertainment UK (E-UK)
From the administrators…
Neville Kahn, Dan Butters and Nick Dargan of Deloitte & Touche LLP were appointed as Joint Administrators of Woolworths plc and Entertainment UK Limited on 27 November 2008.
The affairs, business and property of the companies are being managed by the Joint Administrators. The Joint Administrators contract as agents of the companies and without personal liability.
Any queries regarding the Companies should be directed to: woolworthsplc@deloitte.co.uk, euk@deloitte.co.uk or 020 7706 5000.
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Tags: cd woolies, e-uk, entertainment uk, euk, woolies, woolworths, zavvi
MFI
27Dec08
So MFI has went up the spout! Whats your views on it? Did you order a Kitchen?
From MFI.co.uk.
MFI Group Limited (In Administration)
MFI Group Limited (In Administration) (“the Company”)
Phil Duffy, Geoff Bouchier and Paul Clark of MCR were appointed as Joint Administrators (“Administrators”) to MFI Group Limited on the evening of 26 November 2008. All Administrators are licensed by the Insolvency Practitioners’ Association.
The affairs, business and property of the Company are being managed by the Administrators, who act as agents of the Company and without personal liability.
Further to the updated announcement on 18 December 2008, despite the best endeavours of the Administrators and management, it has not been possible to conclude a sale of the customer order book.
However, as noted previously, prior to the business being placed into Administration on 26 November 2008, the directors entered into certain arrangements with the Company’s merchant services provider whereby substantial cash sums were held by the merchant services provider as security for customers’ monies.
Based on management’s figures, the Administrators currently believe that the merchant services provider is holding a total of almost £30m in respect of these arrangements which is roughly equivalent to the total amount of customer monies held by MFI Group Limited in respect of outstanding orders as at the date of Administration.
Following the unresolved negotiations with parties who had wished to acquire the rights to the fulfilment of the Company’s order book, the Administrators have decided to cease trading and to effect a refund of customer monies. All stores have now been closed.
Outstanding Customer orders and refunds
Following the decision of the Administrators to close all MFI stores, arrangements are being made to refund / charge-back, as far as is feasible, customer monies held by the Company.
FUNDING IS AVAILABLE FOR REFUNDS / CHARGE-BACK
Prior to the business being placed into Administration the directors entered into arrangements with the Company’s merchant services provider (the Company which processes all of the Company’s credit and debit card transactions) whereby substantial cash sums were deposited and held as security for customers’ monies.
The merchant services provider is holding a total of almost £30,000,000 in respect of these arrangements, a sum which is believed to be roughly equivalent to the total amount of customer monies held by MFI Group Limited in respect of outstanding orders as at the date of Administration.
REFUND / CHARGE-BACK CLAIMS PROCEDURES
In order to claim a refund / charge-back from these funds, customers with outstanding orders should follow the following procedures:-
CREDIT CARD AND VISA DEBIT CARD PAYMENTS
1. If a customer has paid a deposit or a final payment by credit card (or VISA debit card) and has not received ANY product then they should contact their own credit card issuer to initiate a charge-back of any sums paid.
All such charge-backs will be made from the funds already held by the Company’s merchant services provider in accordance with normal industry practice.
The Administrators have agreed a detailed process to reconcile all claims to the Company’s records and to ensure that all valid customer charge-backs will be approved and processed as quickly as possible.
2. If a customer has paid by credit card (or VISA Debit card) and has received an incomplete delivery, the customer should contact their own credit card issuer to initiate a partial charge-back of their order.
All such partial charge-backs will be made from the funds already held by the Company’s merchant services provider in accordance with normal industry practice.
The Administrators will liaise with the merchant service provider to confirm short deliveries and to ensure that all valid charge-backs are issued as quickly as possible.
Charge-backs will NOT be made where the customer has signed Company documentation confirming receipt of goods which they now claim were not delivered.
CASH, CHEQUE AND NON-VISA CARD PAYMENTS
1. If a customer has paid by cash, cheque or non-VISA debit card and has not received a delivery, based upon current financial information the Administrators expect to be able to issue a refund from the surplus funds held by the merchant services provider.
It is not yet possible to predict the timing of such refunds although discussions with the merchant services provider are taking place in order to seek an interim release of the surplus.
All such customers should complete the Proof of Debt form available on the Company’s website and submit this form to the Joint Administrators at mfi@mcr.uk.com or 43-45 Portman Square, London, W1H 6LY before 31 January 2009. Copies of the Proof of Debt form are also available by post from MCR 43-45 Portman Square, London, W1H 6LY.
INTEREST-FREE AND OTHER CONSUMER CREDIT ARRANGEMENTS
1. Customers who made arrangements to pay for their order using any form of interest free or other consumer credit and who have not received a delivery are unaffected by this process. The credit has not been drawn down by the Company and the customer will NOT be required to make payments under any such arrangements.
2. Customers who have paid for their order using a consumer credit agreement but who received an incomplete delivery will be contacted by the Administrator in order to arrange a reduction in the amount owed to the credit provider. Specific queries in this regard should be emailed to blackhorse-enquiries@mfi.co.uk.
The Administrators have already initiated a process to contact such customers.
The arrangements put in place by the directors prior to the appointment of Administrators have ensured that the Company’s consumer credit supplier is currently holding more than sufficient cash to make the expected reductions.
Again, the Administrators, have implemented a process to ensure that all valid claims are dealt with quickly but refunds will NOT be made where the customer has signed Company documentation confirming receipt of goods which they now claim were not delivered.
The Administrators regret that it has not been possible to find a buyer for the business as a going concern but are committed to establishing an equitable process to refund customer monies where this is possible and where valid claims are made and confirmed by the Company’s records.
ITV advertisement
Advertisements in respect of MFI Group Limited were aired on ITV commencing on 11 December 2008.
It should be noted that the agreement to air these advertisements were arranged prior to the Administrators appointment and no payments for the advertisements were made by the Administrators. The advertisements were aired without the consent of the Administrators and against the Administrators explicit requests to have the advertisements withdrawn.
When the Administrators became aware that the advertisements were scheduled to be aired on ITV, they took all reasonable steps to have them withdrawn.
The Administrators confirm that they did not place the advertisements and they have taken steps to ensure no further advertisements of this nature are aired.
Customers seeking information on product warranties/guarantees
If your product was branded Diplomat or was an MFI own brand product you may have a claim in the Administration if the product has failed during the standard warranty period. Please send details of your claim to the Administrators office at the address below.
If you have an appliance which was made by another manufacturer, it may be covered by the manufacturers’ warranty. Please contact the manufacturer directly.
If you purchased an extended warranty through a third party such as AIG and the product is still within its warranty period, please contact the third party directly.
General customer queries
The customer call centre details are as follows:
Weekdays – 01405 744 813 between 9:00AM and 6:00PM.
Saturday – 01405 744 813 between 9:00AM and 6:00PM.
Please note that the call centre does not operate on Sundays.
Please also note that the call centre continues to experience a very high volume of calls. You may therefore prefer to email your query to customer.services@mfi.co.uk and your email will be responded to as quickly as possible.
Alternatively, if your query is not covered by the information contained within this website, you can email the Administrators’ representatives at mfi@mcr.uk.com. Your email will be responded to in cases where we are able to provide additional information.
Suppliers
All supplier orders including fitters and subcontractors have been suspended and should not be completed/fulfilled without the express authorisation of the Administrators.
All debts owed to suppliers/creditors incurred prior the Administrators appointment will be unsecured claims against the Company. The Administrators will be writing to all creditors within the coming weeks. However, if you wish to lodge your claims now then you can download a Claim Form from the MCR website (go to downloads/publications and follow the link to MFI). All completed forms should be sent to the MCR offices at 43-45 Portman Square, London W1H 6LY. Alternatively, scanned Claim Forms can be emailed to mfi@mcr.uk.com. To assist the Administrators in dealing with the email enquires, please include “Supplier – Claim Form” in the subject line of your email.
Payment will not be made by the Administrators for any supplies/work provided after 26 November 2008 without the prior and express authorisation from the Administrators.
Please note that creditors/suppliers claims will be dealt with in the Administration and this is likely to take several months before all claims are agreed. At this stage it is too early to confirm what level of funds will be available to distribute amongst unsecured creditors. Any funds will be distributed equally amongst unsecured creditors and should funds be available it is likely you will receive a fixed percentage of your claim.
Suppliers queries should be directed to mfi@mcr.uk.com and one of the Administrators staff will endeavour to deal with your enquiry.
Customers who purchased Kuchen Lab kitchens
The following section applies to customers who have paid for a Kuchen Lab kitchen in full. It does not apply to any other class of customer.
Having reviewed the Company’s books and records, the Joint Administrators advise that subject to meeting certain terms and conditions, the Joint Administrators are able to facilitate the release of Kuchen Lab kitchens that are currently located at the Company’s warehouse in the UK. Please note that this only relates to kitchens that have been paid in full and located in the UK.
The Joint Administrators are able to release these goods, because the Kuchen Lab kitchens are custom designed, built for individual customers, paid for in full and have been delivered into the UK by the manufacturers.
You will be contacted by the Joint Administrators representatives in due course who will explain the process to you. Further, should you wish to contact the Joint Administrators, please contact us at mfi@mcr.uk.com and place ‘Kuchen Lab’ as the subject header to your email.
The Joint Administrators are continuing to review the balance of the Kuchen Lab order book in respect of other classes of customers, including remedial work. An update will be provided in due course once the position has been clarified.
Homebase Offer
In order to further support customers who have outstanding deliveries and who have or will receive a refund, the Joint Administrators have managed to secure a 10% discount at Homebase on all new Kitchen, Bedroom and Bathroom orders placed before 30 January 2009.
To receive this discount, customers with outstanding deliveries will need to provide proof of their outstanding delivery obtainable by email from the Administrator at mfi@mcr.uk.com with the word ‘Homebase‘ in the subject heading.
Terms and conditions apply. For more information, customers can call the Homebase helpline number: 0845 601 0441 or visit www.homebase.co.uk.
General Enquiries and the Joint Administrators’ Report to Creditors and Statement of Proposals
The Administrators offices are located at 43-45 Portman Square, London W1H 6LY.
The Administrators’ Report to Creditors and Statement of Proposals dated 5 December 2008 is available by clicking here http://www.mcr.uk.com/documents/78.pdf. A proof of debt form is available by clicking here http://www.mcr.uk.com/Documents/76.pdf. An Order of the High Court of Justice dated 3 December 2008 granted the Joint Administrators relief not to post the report to all known creditors. A copy of this Order is contained with the report. This document together with other notices and documents relating to the administration can also be found by clicking on Publications/MFI on the left hand side of the MCR website. The proposals report to creditors and proof of debt form are also available on the MFI website www.mfi.co.uk
By the Administrators
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Tags: closure, death mfi, fucked high street, high street, mfi, mfi administration, mfi close, mfi shuts
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