Ric's bankrupt thread #2

[ric]

Hi all,

Wtf is wrong with this country?

Placed an order through city glass 2 weeks ago - had to pay upfront for order$700+ for windscreen glass. Custom sizes

Good old ASIC website says they went into liquidation on the 8th of this month.

Yay!

[solemandownunder]

Geez Ric...ur havin' a bad run M8....was the glass windscreen for ur boat ?

Ray.

[ric]

Geez Ric...ur havin' a bad run M8....was the glass windscreen for ur boat ?

Ray.
Yes,
bloody unlucky, paid for glass on the 26th June. they were sent into liquidation on the 8th of july!

After a bunch of phone calls and sniffing around, I managed to wrangle an opportunity to go for a walk through their factory tomorrow and if I can find my glass, I am allowed to take it. (all legit, organised through liquidation/auctioneering company)

So hopefully a bit of luck might fall my way. Apart from that, the company is dead broke and I've been told no chance of getting any cents per dollar return.

[Mike Delisser]

Really hope you score the glass you paid for ric.
Good Luck

[Funchy]

Yeah, good luck Ric, hope ya get your glass mate

[Jarrah Jack]

The owners would've know they were in trouble when they took your money. Should be strung up!

[Si]

Hi all,

Wtf is wrong with this country?

Placed an order through city glass 2 weeks ago - had to pay upfront for order$700+ for windscreen glass. Custom sizes

Good old ASIC website says they went into liquidation on the 8th of this month.

Yay!

Bummer. Hope you get your windscreen. Have to feel for any employees who have lost their job as well.

[Justin Rossiter]

I agree with Jack, these things don't happen overnight !!

Good luck with the glass, you could use a bit of luck !!

[solemandownunder]

JUST in case you were unaware Ric, member FatBuoy on here does windscreens for boats I believe....if for any reason you do not get any joy ( BUT I HOPE YOU DO ).

Ray

[Shark Poker]

JUST in case you were unaware Ric, member FatBuoy on here does windscreens for boats I believe....if for any reason you do not get any joy ( BUT I HOPE YOU DO ).

Ray

Thanks Ray,
For these particular window panels I did suggest to Ric that he contact that company (City Glass). They are, should say WERE, leaders with the black banded (ceramic) frameless toughened glass. QA was my concern on multiple factors but you need to remember that for boats we are continually ordering one-off complex shapes, every day, the opposite of what a production company wants to manufacture. It is a relatively dysfunctional situation.
So I suggested Ric should approach direct to the City Glass as a one time order for 3 panels is an easy request and totally manageable.
Ric was also smart enough to be ordering weeks before he needs them, not days before.
After meeting Ric recently and discussing his power cat project, and also speaking with him today, I must say that Ric is a true gentleman, and deserves much better.
In time I hope he is happy with the results of us local suppliers.
Pauly

[ric]

Thanks for the kind words fat bouy.

No luck this morning, but there were alot of orders sitting there waiting for collection.

Another day, another dollar.

Thanks all.

If anyone has outstanding orders with them, or is interested in buying their equipment, pm me and i can pass on the auctioneers details.

[manta man]

Well good luck with the shopping excursion. It is truly amazing, how Companies and the People involved, can keep trading when they know they"re Broke. This continues to happen, yet Governments have got ( No Balls) to act . We as Consumers deserve more protection yet we get Zot. I wonder what would happen if somebody with some Statue in Government were Burnt for a Merry Sum. I do have a hunch but hey.. nobody listens. Its alright MPs take your "Big Fat Payrises we don"t really mind. Ha Ha. Yeh Right.
Cheers Manta Man

[WalrusLike]

Guys it's a bit more complicated than it seems.

We all agree at first glance that they shouldn't take an order they know they can't fill.... But it's trickier than that.

Almost every business out there has been through lean times when they were not sure if they could survive. But they kept going and did survive.

If they had said 'nah we aren't taking orders cause we might go under' they definitely would go under.

They didn't say that, and they survived. Next door they didn't survive. The people who ordered stuff from next door got hit but both businesses did exactly the same thing. Tried to struggle through. One did one didn't.

It's too simplistic to say 'you knew you were in trouble'. Almost every business is in trouble regularly for at least some of its business lifetime.




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[Jarrah Jack]

Sorry 'rus, no way you put up with that. All they had to do was ask for a decent deposit not the full amount. I have my own custom business and never ask for anything more than a 20% deposit.

Some things are simplistic in business, its called intregity, you may get caught out once or twice but its a fair enough price for decency and good will.

[WalrusLike]

Jack that's a slightly different thing.... a deposit would be the normal thing for _almost_ all businesses wouldn't it?

But some want money up front. That is presumably because they have custom stuff that if the customer balks they are stuck with.

It's the old problem of balance between risk and reward ( ie they will get more customers without the up front hurdle). The customer decides if they want to take the risk of insolvency in the business. Mostly it's a safe bet but as here, it can go wrong.

Unless the up front aspect was a recent change, then the business didn't do it to screw customers, but rather to protect themselves from being screwed.

I feel for Ric and hope he gets a good resolution but unless the up front was a recent thing I still can't see it as a deliberate low act.

Please understand that I have no stake in any of this... I just think its probably not a deliberate low act.

Truly hope it goes ok for you Ric, and I would gladly ante up my $10 if you decide you can accept our collective help.




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[ric]

About 10 days between payment and notice of liquidation.
Catch is, if the directors admit to trading insolvent, us as consumers/creditors then have the ability to raise the corporate curtain and sue the directors personally.

In my case, being so close together, there would be an option for this but im not one to jump around sueing people. Not worth the effort for 700 odd bucks.

Comes around goes around as far as im concerned. Old mate mr director would have 30+ pissed off employees from what i could see looking through the factory to worry about first.

[ric]

The only way consumers can protect themselves is if the money is held in trust until product is completed and delivered

Its easy to say that i shouldnt of paid upfront, but from the business point of view that leaves them at risk. The only neutral way would be the trust.

[PixieAU]

ric if you paid on credit card you might be able to claim insurance against the card

[Jarrah Jack]

Jack that's a slightly different thing.... a deposit would be the normal thing for _almost_ all businesses wouldn't it?

But some want money up front. That is presumably because they have custom stuff that if the customer balks they are stuck with.

It's the old problem of balance between risk and reward ( ie they will get more customers without the up front hurdle). The customer decides if they want to take the risk of insolvency in the business. Mostly it's a safe bet but as here, it can go wrong.

Unless the up front aspect was a recent change, then the business didn't do it to screw customers, but rather to protect themselves from being screwed.

I feel for Ric and hope he gets a good resolution but unless the up front was a recent thing I still can't see it as a deliberate low act.

Please understand that I have no stake in any of this... I just think its probably not a deliberate low act.

Truly hope it goes ok for you Ric, and I would gladly ante up my $10 if you decide you can accept our collective help.




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You didn't read my reply. I have a custom business and have always been in a custom business of one form or another. Get someone to pay up front for a house and see how you go, a kitchen? nope, no way. A 50% deposit would cover costs and also makes the customer reluctant to walk away from that amount.

Have you run a custom business or are you just guessing?

That's it for me anyway. I think Ric's a gentleman the way he's handled this, I don't think the business owners were. Simple.

[AnthonyL]

Sorry you got ripped Ric, it has happened to me too and I didn't get a cent back.

What really sh*ts me is that a lot of the time they go belly up and start up again in their wife or brothers name.

[WalrusLike]

You didn't read my reply. ........

Have you run a custom business or are you just guessing?

That's it for me anyway. I think Ric's a gentleman the way he's handled this, I don't think the business owners were. Simple.

Yeah I did read your reply.... and yeah I did know you have a custom business.

I don't. I did have a business but I failed at it.

I agree Ric is handling it like a gent.

I still don't think it's 'Simple'

But I could be wrong.


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[WalrusLike]

Oh.... it just occurred to me that folks might incorrectly infer from my comments above that I failed in business and left folk out of pocket..,

The opposite... my business failed and owed no one any money (or goods) except me.... :)


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