Victoria Plum into administration

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You’d think that once you pay for items that are in stock then those items belong to you ! Yet the receivers will put a claim on them and sell them
 
You’d think that once you pay for items that are in stock then those items belong to you ! Yet the receivers will put a claim on them and sell them
Back in the day when we did large council house improvement contracts, any stock we bought in & claimed for in monthly accounts had to be labelled as sold.
 
You’d think that once you pay for items that are in stock then those items belong to you ! Yet the receivers will put a claim on them and sell them
Nope, sorry, but that’s not how the game works.

The stuff you bought will be sold / delivered to you. It won’t be sold again to someone else.

It’s “in administration” because the managers don’t know how to meet all their debts. The administrators will either fix it, or sell the business to someone at a discount
 
Nope, sorry, but that’s not how the game works.

The stuff you bought will be sold / delivered to you. It won’t be sold again to someone else.

It’s “in administration” because the managers don’t know how to meet all their debts. The administrators will either fix it, or sell the business to someone at a discount
Unfortunately the administrators seem to have a different idea - Victoria Plum Limited – in Administration (“the Company”). It seems AHK are only buying certain parts - critically not the liabilities.
 
Strange things:

On Wednesday received a full refund from our bank, albeit with ‘payment pending’ displayed.

Yesterday without warning we had a delivery of £2.5k’s of bathroom items. All there with no breakages. ✅

This morning the bank took their money back.

All’s well that ends well. 🥳

Question is do I have the confidence to continue using VP for future projects? 🤷‍♂️
 
Strange things:

On Wednesday received a full refund from our bank, albeit with ‘payment pending’ displayed.

Yesterday without warning we had a delivery of £2.5k’s of bathroom items. All there with no breakages. ✅

This morning the bank took their money back.

All’s well that ends well. 🥳

Question is do I have the confidence to continue using VP for future projects? 🤷‍♂️
Result!
Personally, I'd be a bit gun-shy about spending anything with them in the immediate future until I knew things had definitely settled down.
 
Result!
Personally, I'd be a bit gun-shy about spending anything with them in the immediate future until I knew things had definitely settled down.
Yeah, can’t argue with that Mikey.

I’ve emailed my ole trade account manager to get the latest gossip. But I’m sure he’ll only give me the encouraging news they want me to hear.

Sounds silly but it’s a shame there were no breakages. Would have been a good test of current after sales service which I must admit has always been absolutely fantastic for next day replacements and easy returns.
 
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Yeah, can’t argue with that Mikey.

I’ve emails my ole trade account manager to get the latest gossip. But I’m sure he’ll only give me the encouraging news they want me to hear.

Sounds silly but it’s a shame there were no breakages. Would have been a good test of current after sales service which I must admit has always been absolutely fantastic for next day replacements and easy returns.
Yep.
My experience of being a long term customer with a company who subsequently was taken over after going bump was that the new "phoenix" company tried everything to save money; service went down the tubes and product lines were replaced with inferior quality at the same or higher prices.
 
Yep.
My experience of being a long term customer with a company who subsequently was taken over after going bump was that the new "phoenix" company tried everything to save money; service went down the tubes and product lines were replaced with inferior quality at the same or higher prices.
Time will tell re: VP.

The items that landed yesterday are all very familiar but guessing it’s all existing stock.

There’ll be a reason they went into administration so the new owners will be keen to make the numbers add up. So either prices go up or quality comes down I guess.
 
Unless there was something inherently flawed with the operating model (overheads too high, inefficiency or whatever), that's the only place they can balance the books.
 

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