Motorworld into bankruptcy/recievership???

[Antera230]

Hi,
Recently passing scunthorpe motorworld shop and they had a sign reading that the store was temporarily closed until further notice and then there was an employee chatting to a customer/friend saying that they've gone into recievership (Bankruptcy).

Is this true as I'd like to know as I'd like the record to be set straight, as I do have an order with them.

Any help on this would be most appreciated.

Edit: The motorworld website (http://www.motor-world.co.uk) doesn't seem to be functioning its either my computer or their server.

 

[jug]

its true, check the news.

http://www.thelancasterandmorecambecitizen.co.uk/news/3706775.Motor_World_goes_bump/

i'm not surprised, they charge halfords prices.

 

[Antera230]

its true, check the news.

http://www.thelancasterandmorecambecitizen.co.uk/news/3706775.Motor_World_goes_bump/

i'm not surprised, they charge halfords prices.

its true, check the news.

http://www.thelancasterandmorecambecitizen.co.uk/news/3706775.Motor_World_goes_bump/

i'm not surprised, they charge halfords prices.

Got this from Companies House

PACIFIC RETAIL LIMITED
UNIT 2 PENNINE BUSINESS PARK BRADLEY ROAD
BRADLEY
HUDDERSFIELD
WEST YORKSHIRE
HD2 1RA
Company No. 06641125

Status: Active
Date of Incorporation: 08/07/2008

Country of Origin: United Kingdom
Company Type: Private Limited Company
Nature of Business (SIC(03)):
None Supplied
Accounting Reference Date: 31/07
Last Accounts Made Up To: (NO ACCOUNTS FILED)
Next Accounts Due: 08/04/2010
Last Return Made Up To:
Next Return Due: 05/08/2009
Previous Names:Date of changePrevious Name11/09/2008FLEETNESS 610 LIMITEDBranch Details There are no branches associated with this company.





Apparently according to that article, they've been sold to the above company of Pacific Retail limited. Checked out Companies house register

http://wck2.companieshouse.gov.uk/e5c03d13221e7c290f78289326e40dc9/wcframe?name=accessCompanyInfo

(if link doesn't work copy and paste)

And motorworld had exactly the same address. Is this weird?

I'm going to leave it here as I've followed some trail and its led me to a unsettling reasoning of...I'm going to have a cup of tea and hope that my order is still intact!

However on the goodside for motorworld, they're saving millions on all the debts they must of acquired. Badside employees made unemployed.

Resources:

http://www.baileycapital.co.uk/

Can't understand why Bailey Capital didn't bail them out.

 

[jug]

motorworld had exactly the same address. Is this weird?

its the first time i've seen that happen. 2 different companies were registed to the same address and one has just bought the other. what are the chances?!

 

[Chas Uno]

Sounds like phoenix company to me. Go bankrupt to discard all the debts (the joy of being a Ltd. company) and then get bought out by another company (most probably set up by the directors of Motorworld ) to rise like a phoenix from the ashes...

 

[ChrisUK]

Only for it to happen again because its still crap and overpriced as jug said.

 

[Antera230]

Sounds like phoenix company to me. Go bankrupt to discard all the debts (the joy of being a Ltd. company) and then get bought out by another company (most probably set up by the directors of Motorworld ) to rise like a phoenix from the ashes...

That means I can kiss my order goodbye. .

 

[Chas Uno]

That means I can kiss my order goodbye. .

If you paid by credit card then you can claim back off your card provider. Consumer credits act 1984 (or something like) that if I remember rightly

If you paid by cheque/ cash/ debit card then you're probably going to be unlucky

 

[Antera230]

If you paid by credit card then you can claim back off your card provider. Consumer credits act 1984 (or something like) that if I remember rightly

If you paid by cheque/ cash/ debit card then you're probably going to be unlucky

Thanks for that!

 

[Helz]

If you paid by credit card then you can claim back off your card provider. Consumer credits act 1984 (or something like) that if I remember rightly

If you paid by cheque/ cash/ debit card then you're probably going to be unlucky

Saying that HSBC were VERY helpful when I had a problem with a Maestro payment - British Gas were playing up and they got me my money back so all is not lost if you have a good relationship with your bank

 

[T14086]

Saying that HSBC were VERY helpful when I had a problem with a Maestro

you had a maestro

 

[udtrev]

you had a maestro

and he's admitting it

 

[T14086]

and he's admitting it

he

 

[Helz]

he

Clearly the pinkness is not enough to give it away :chin:

 

[Antera230]

Hmm..

At least the contracts of the remaining employees are still valid since its a takeover and any takeover the contracts remain valid.

However its the employees wages that concerns me especially with christmas approaching. We shall see if it survives or if it justs as said previously returns builds up huge debts and then gets mysteriously taken over again!?

 

[Babz]

Just to put your mind at ease, if the staff members were still at the shop during the day (even though it was closed), the shop will be reopening mid/late next week.

We are not in administration anymore and were bought out almost imediatly after being declared bankrupt.

Many stores were closed today and will not be reopening but if the staff were at the shop today, they will be, likely under a new name, however this isn't final at the current time.

If your local shop does close and you have items on deposit or reserved, they will be moved to the nearest shop that is remaining open.

The shops which were closed were shops that were not breaking even. All shops remaining open are busy and making a profit.

As for the company being bought out by another company at the same address, yes, the company to buy us out is funded by the company that just sold us.

 

[Julesiom]

There is a number of items on the net regarding the above.

It appears that the company that funded motor world (Bailey Capital) - if you look at their website Motorworld was still advertised yesterday when I looked and they also appear to be behind Maccess.

The new company has then been set up by the same company. This may be because Bailey Capital is an Private Equity company. For some reason I thought that their was a management connection between Motorworld / Maccess and Tetrosyl (Carlube products) but not sure.

 

[JFL]

they also.....

1) change there details and policies according to cars.
2) lie (in cases that could cause serious damage).
3) have very rude staff members.
4) let people not young enough to drive, drive cars around (and into things)

 

[Antera230]

Just to put your mind at ease, if the staff members were still at the shop during the day (even though it was closed), the shop will be reopening mid/late next week.

We are not in administration anymore and were bought out almost imediatly after being declared bankrupt.

Many stores were closed today and will not be reopening but if the staff were at the shop today, they will be, likely under a new name, however this isn't final at the current time.

If your local shop does close and you have items on deposit or reserved, they will be moved to the nearest shop that is remaining open.

The shops which were closed were shops that were not breaking even. All shops remaining open are busy and making a profit.

As for the company being bought out by another company at the same address, yes, the company to buy us out is funded by the company that just sold us.

So you're debts are cleared then?

Since you're debts are cleared, then correct me if I'm wrong then all the orders that were placed along with any monies to secure them are now wiped out since any supplier will automatically cancel the orders that were placed with your company when you went into administration. I've also gone onto this website: http://www.insolvency.gov.uk/ to seek further advice.

You're other shops aren't open. I passed scunthorpe today and it was closed.

So please don't treat me like a child.

 

[superted]

Antera230, I have private messaged you regarding Scunthorpe Motorworld, Thanks