Derby House Gone bust?

If you check on companies house website, you will clearly see that they ARE in voluntary administration Wef 20th July? There was a post on their fb page about this, whereby they were denying it till someone posted the link to companies house............ The post has now disappeared!

It's such a shame, if they were honest with customers, they might never have gotten into this mess, such a shame... But for now, order withcare
 
On Companies House website I see Status: Voluntary Arrangement. Can you see something different? A voluntary arrangement is not the same as voluntary liquidation.

Edit: I just realised there are several Derby House companies. I used the name on the website but there are lots with the same address...
 
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As others have said, Derby House currently have a voluntary arrangement in place.

http://companycheck.co.uk/company/04330122

I understand they made an £8million loss in the 3 years to 2010, and net worth currently stands at £-15,830,889.

It is a crying shame, but don't really see a way back for them. They really shouldn't keep taking orders they have no hope of fulfilling :(
 
Derby House used to be quite a superior supplier, you could get things from that catalogue not available elsewhere, but didn't they take over another firm that was in trouble, and it hasn't gone well since.
 
I was in the shop, or what is left of it, today. Their stock levels are virtually non existent and their range is extremely poor. Nothing worth buying! Apart from lunch and cheese!

They have closed off yet more of the store. It feels very sad.
 
Showingmadfilly, their accounts are filed at Companies House - can't link to it here, but the link I gave above is an accurate summary ( http://companycheck.co.uk/company/04330122 )

It's terribly sad - noone wants to see a business fail. But seriously, how are they allowed to keep taking orders?

There's another massive thread on here recently, where people are paying, not receiving goods or refunds. I'm still waiting for £120 back from them. It really shouldn't be allowed :(
 
I've been waiting nearly 4 weeks for a refund... It's a shame the timelines etc are so long as everyone I have spoken to there have always ben very friendly and helpful. Just hope I get my money back. I don't think ill order again - this is from am order I placed in May and took a month to arrive!
 
Orangehorse said:
Derby House used to be quite a superior supplier, you could get things from that catalogue not available elsewhere, but didn't they take over another firm that was in trouble, and it hasn't gone well since.
Click to expand...

I know it used to be fantastic. Personally I think it all went wrong when they replaced Joules with Katie Price ;)
 
They used to have the nicest catalogue with more of the nicer stuff around, I couldn't always afford to use them but I used to love looking through their catalogue. Was that before they were taken over? I don't know, but it's quite sad.

I gave up on DH a pretty long time ago now as they have been nothing but crap with my orders for ages, I'm still on the mailing list though and my junk folder gets at least one sale/discount/offer email a day from them, usually two. I feel like I would be mad to be tempted though, given my past experiences with them, and the VA they have in place now.
 
As I, and others have mentioned, according to official reports, Derby House Limited, company number 04330122, has a Status: Voluntary Arrangement. Basically, this means the company is in liquidation (and an insolvency practitioner has been appointed). It is illegal to trade whilst insolvent in this country unless certain provisions can be made. The insolvent company can enter into a company voluntary arrangement (CVA) in an effort to make a payment of some or all of its debts. The arrangement requires agreement of all directors of the company, the legal administrators of the company, or the appointed company liquidator. For clarification:

A company voluntary arrangement (CVA) is a procedure that allows a company:
• To settle debts by paying only a proportion of the amount that it owes to creditors.
• To come to an arrangement with its creditors over the payment of its debts.

Once bound by a CVA, a creditor is prevented from taking steps against the company that the terms of the CVA prohibit. Typically these will be drafted to prevent the creditor from recovering any debt that falls within the scope of the CVA other than through an agreed mechanism set out in the CVA, or to enforce rights against the company that arise from the company's failure to pay the debt in question in full. (source: WIKIPEDIA).

I stress, therefore, that buying from DH is very much at your own risk - if they have the item in stock you may be lucky. In my experience when companies get to this stage, they get to sell off everything on their order books because suppliers have committed to production. They are perfectly entitled to say that items are in stock, even when there is just one item. But if it is one item and 25 people want it, it's not going to be in stock for long.

Your refund will take forever because every payback will need to be cleared by the administrator and your money may already have been spent in refunding creditors, so they will have to wait for further monies to come in before they can pay you.

PS Still waiting for £40 refund on a gift voucher they cocked up on over Christmas.
 
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Looking at the CH report they entered the CVA in January 2012. So they have been trading under those circumstances for a while. Basically it is bankruptcy ‘lite’, an unsecured creditor is more likely to receive their money back if the company still has the ability to make money so they all come to an agreement to repay the debt at a lower rate or reduced amount so they can keep trading to try and recop their losses.
 
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