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Liquidation - the theiving buggers
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"Just found out this morning via letter from courts that a major 'multi million' contractor that we work for and have been doing so for the last 9 years has gone into liquidation, meaning the 25k still owed to us will not be getting paid. The owners have variety of cars from aston martin to audi r8's. As it is a limited company and has started recievership we are going to be done out of all our money. Actually we will get paid 15p to each pound if were lucky 1.5p if were not.... Thanks a lot. It is a shame its the age old addadge of the Big Companys crushing the small but such is life ..." This happened to my family business with a few big contractors. We ended up having to go into Administration, it had been running since the early 1970's without any major problems as well.  | |||
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"On the positive side... you got 9 good years out of them." Oh and they can claim the vat back and write it off as a tax loss, but they are still £25k down NOW and as others have said companies have gone under themselves due to bad debts. The also did 9 years work for it  | |||
i bet they carried on using you for work even though they knew they was going into liquidation | |||
"Just found out this morning via letter from courts that a major 'multi million' contractor that we work for and have been doing so for the last 9 years has gone into liquidation, meaning the 25k still owed to us will not be getting paid. The owners have variety of cars from aston martin to audi r8's. As it is a limited company and has started recievership we are going to be done out of all our money. Actually we will get paid 15p to each pound if were lucky 1.5p if were not.... Thanks a lot. It is a shame its the age old addadge of the Big Companys crushing the small but such is life ..." Two of my competitors went into liquidation last year after poor business decisions, quality etc. They started again after screwing suppliers and offered cheap rates to my customers - who jumped on the new rates like pigs in a trough!! The rates are so cheap that there is no way they could make money if they intended to actually pay suppliers, which of course they don't. It happens too often, and is regarded by some as a legitimate technique for trading. My customers - mostly large blue chip companies OR local authorities- are condoning this practice by trading with them to save a few pennies. All perfectly legal. | |||
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"thats a pisser
i bet they carried on using you for work even though they knew they was going into liquidation "And that is the bloody annoying thing | |||
"thats a pisser
i bet they carried on using you for work even though they knew they was going into liquidation
And that is the bloody annoying thing"i feel for companies that are owed the money too as its just not what the country needs | |||
"I am sure the contractors are thrilled at going into receivership/liquidation… those big bad nasty feckers running a business for at least 9 years and then letting it go tits up for the sake of it. After at least 9 years of running the business they don’t sound too much like the more unscrupulous money grabbers greedy fucks who set up a company to dupe others with every intention of leaving bills unpaid whilst they scarper off with the cash. Of course it’s not a nice thing to happen… but it does. Let's not forget, they are in the shit because they weren't getting the cash in too. " The difference being that if you OWE money to them you still have to pay the receivers. I've been in the situation where I had to pay money to someone who owed me money. They then came back as a new company using the same machinery and driving the same cars | |||
"I am sure the contractors are thrilled at going into receivership/liquidation… those big bad nasty feckers running a business for at least 9 years and then letting it go tits up for the sake of it. After at least 9 years of running the business they don’t sound too much like the more unscrupulous money grabbers greedy fucks who set up a company to dupe others with every intention of leaving bills unpaid whilst they scarper off with the cash. Of course it’s not a nice thing to happen… but it does. Let's not forget, they are in the shit because they weren't getting the cash in too. The difference being that if you OWE money to them you still have to pay the receivers. I've been in the situation where I had to pay money to someone who owed me money. They then came back as a new company using the same machinery and driving the same cars" happens alot that | |||
"I am sure the contractors are thrilled at going into receivership/liquidation… those big bad nasty feckers running a business for at least 9 years and then letting it go tits up for the sake of it. After at least 9 years of running the business they don’t sound too much like the more unscrupulous money grabbers greedy fucks who set up a company to dupe others with every intention of leaving bills unpaid whilst they scarper off with the cash. Of course it’s not a nice thing to happen… but it does. Let's not forget, they are in the shit because they weren't getting the cash in too. The difference being that if you OWE money to them you still have to pay the receivers. I've been in the situation where I had to pay money to someone who owed me money. They then came back as a new company using the same machinery and driving the same cars happens alot that "And asked us to do work for them again | |||
" The difference being that if you OWE money to them you still have to pay the receivers." Albeit too late. | |||
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" The difference being that if you OWE money to them you still have to pay the receivers. Albeit too late." Albeit that it does F**k all for you getting your money | |||
"thats a pisser
i bet they carried on using you for work even though they knew they was going into liquidation "Doesn't that count as trading whilst insolvent? If you can establish that directors of a limited company did this you may have a claim against them personally. That may not put you in a better position financially but you'll probably feel a bit better if you can get them disqualified as directors for x years. | |||
"thats a pisser
i bet they carried on using you for work even though they knew they was going into liquidation
Doesn't that count as trading whilst insolvent?
If you can establish that directors of a limited company did this you may have a claim against them personally. That may not put you in a better position financially but you'll probably feel a bit better if you can get them disqualified as directors for x years."Proving it is another matter | |||
"thats a pisser
i bet they carried on using you for work even though they knew they was going into liquidation
Doesn't that count as trading whilst insolvent?
If you can establish that directors of a limited company did this you may have a claim against them personally. That may not put you in a better position financially but you'll probably feel a bit better if you can get them disqualified as directors for x years.
Proving it is another matter"Agreed, that's why I said 'if'. That aside, a consortium of similarly treated subbies might get together to share the cost and it might be possible to find a suitably pissed-off former employee of the failed company who actually knows what went on. | |||
"thats a pisser
i bet they carried on using you for work even though they knew they was going into liquidation
Doesn't that count as trading whilst insolvent?
If you can establish that directors of a limited company did this you may have a claim against them personally. That may not put you in a better position financially but you'll probably feel a bit better if you can get them disqualified as directors for x years.
Proving it is another matter
Agreed, that's why I said 'if'.
That aside, a consortium of similarly treated subbies might get together to share the cost and it might be possible to find a suitably pissed-off former employee of the failed company who actually knows what went on."And then they discredit him as just that. | |||
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"Is the £32500 they owe you due as one payment, or is it an accumulation of a number of overdue payments? All too often, we carry on working while being owed for work already completed. We should in hindsight have stopped work earlier until payment was received. It's always easy to say these things after the event, but sometimes we really should be tougher with our debters" I did just that a couple of weeks ago. I'd done a lot of work in a house via a letting agent, for a Landlord, but the landlord didn't see fit to cough up, so off I went to another job and left that one half done - a house isn't much use if it's only part rewired  .
So a week or so later the phone rang, it was the letting agent - 'How much longer will it be before that job is finished, as the new tenant is due to move in in 5 days' My reply, 'I won't be finishing it at all if Mrs X doesn't cough up and pay me'
2 days later - the cheque was there for me  and I continued with the work.
Once people start to piss me about - the work stops, simple as that | |||
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