if you have ordered anything from this store there is a good chance that you have lost your money with no refund as the company has gone bust they have got a store at woodseats

courts (http://www.courts.co.uk/)

Wow :o That's pretty big news. Thanks for letting us know Craig, if anyone has ordered something then you are best to act sooner rather than later, it tends to be first come first served. Perhaps head to their store and demand something of equal value - they probably won't give you anything (due to the legal constraints of being in administration), but if you do get something - it's better than the alternative - nothing!

I have heard they have been instructed not to re-open now as a result of vigilante style behaviour from disgruntled customers going in and just taking stuff.

they delivered my stuff about two weeks ago...who's a lucky boy then!!?? I did wonder when i went in a few weeks back and they gave me a fantastic deal on a new leather suite...I even had to get the guy to check the price again....!

Originally posted by wibbles
I have heard they have been instructed not to re-open now as a result of vigilante style behaviour from disgruntled customers going in and just taking stuff.
Yeah, just heard something similar. Want to remind people that I said 'demand' not 'steal'... there is a big difference!

Anyone on SF caught up in this? I heard 50,000 customers nationwide are...

Surely this type of incident is proof enough that there should be special insurances taken out by the company to protect EVERYONE that purchases from their stores. People who have paid with credit card stand a chance of claiming money back as a result of the Consumer Credit Act but I feel for the other purchasers.
If a company goes into administration am I right to assume that all assets are sold off to repay outstanding debts, shareholders etc etc??
Why are customers not given the same treatment. Surely the shareholders are partly to blame for the problem and shouldn't be instantly compensated.

What if you have bought something on intrest free credit, but not paid anything yet ?

Originally posted by nick2
What if you have bought something on intrest free credit, but not paid anything yet ?

I would imagine that those agreements would become part of the assets and that the agreement would still be valid. Assuming that you had already received the good that is.

TBH, its not come as a surprise to me this news.

We bought a 3 piece suite from them a couple of years back and within the first 6 months it'd worn out (not just the material, but the actual frame of the chairs), this was featured on Watchdog so it wasnt even an isolated case!

Courts refused to do anything to help

Luckily enough, we bought our sofa from DFS instead of Courts as it was cheaper there! PHEW!

shareholders are not compensated. All the people it owes money too are compensated. Starting with the biggest. If theres anything left individual creditors (customers) will get something as well, but don't hold your breath.

If you've paid already by credit card then you are completely covered and will receive a full refund if you ask for it from your credit card.

if you've got a finance agreement it will not be with courts itself, so you still owe the money to the credit company. If you haven't received the goods then the contract is in breach so you don't have to pay.

Originally posted by nick2
What if you have bought something on intrest free credit, but not paid anything yet ? The credit is usually supplied by a third party, who hasn't gone bust, so you still owe them!
(Courts will have had their money already, from the credit company.)

No, cyclone, that's not *quite* right.

If you were unfortunate enough to pay for your furniture in cash or by cheque or debit-card , then you are somewhat up the proverbial creek without a paddle.

You are what is called an "unsecured creditor" and you come down the list, way behind the secured creditors. (like the rent people, the rates, and the utilities, then, next in line are the creditors like the contractors- if they are lucky enough to have any money left after paying the previous debts...)

It is only the ones who were lucky enough to have paid by credit card who will be able to claim back the money, via the credit card company's scheme.

it's a bad-do. as wibbles said, there ought to be a mandatory insurance scheme, to protect customers who have paid up-front, in good faith for their goods. it is done in the travel industry, (think about the ABTA scheme's promise- if a travel company goes down the pan, they will at least get you home.)

I can understand the customers getting irate. I would be fuming . You cant describe taking customers' money for goods, knowing that your company is on it's way down the pan, and won't be able to deliver the goods, as anything but theft or fraud.

PT

And all customers who have been ripped off so blatantly ought to be allowed to go round the company gaffer's house and help themselves to HIS belongings, cos you can bet he/she will be laughing their rich little heads off about now as they snuggle down in front of their house-sized TVs, on their thousand quid sofas in their 50 room house in 50 acres of land.:rant:

The London Stock Exchange Regulatory News Service has this to say on the matter.

Mick McLoughlin continued: 'We will be writing to customers who have paid deposits for goods not received. Those customers who have paid deposits by credit card should contact their credit card provider directly.

Further details here
Administrators appointed to Courts Plc and Courts (UK) Limited (http://www.uk-wire.com/cgi-bin/articles/200412011536078725F.html)

which bit was different to what i said?

Originally posted by Plain Talker
No, cyclone, that's not *quite* right.

If you were unfortunate enough to pay for your furniture in cash or by cheque or debit-card , then you are somewhat up the proverbial creek without a paddle.

You are what is called an "unsecured creditor" and you come down the list, way behind the secured creditors. (like the rent people, the rates, and the utilities, then, next in line are the creditors like the contractors- if they are lucky enough to have any money left after paying the previous debts...)

It is only the ones who were lucky enough to have paid by credit card who will be able to claim back the money, via the credit card company's scheme.

it's a bad-do. as wibbles said, there ought to be a mandatory insurance scheme, to protect customers who have paid up-front, in good faith for their goods. it is done in the travel industry, (think about the ABTA scheme's promise- if a travel company goes down the pan, they will at least get you home.)

I can understand the customers getting irate. I would be fuming . You cant describe taking customers' money for goods, knowing that your company is on it's way down the pan, and won't be able to deliver the goods, as anything but theft or fraud.

PT

Originally posted by Strix
The credit is usually supplied by a third party, who hasn't gone bust, so you still owe them!
(Courts will have had their money already, from the credit company.)

Oh well, I guess I'm going to have to pay for it then.

Originally posted by nick2
What if you have bought something on intrest free credit, but not paid anything yet ?

The credit agreement will not be with Courts, it will be with a lender. You will still be required to keep up repayments or face debt collection.

Hey
i no someone who has got caught up in the corts going bust
They payed £900 cash for a new sofa and they have been ssaving for a long time now to get it and it doesnt look like they will get either of their sofa or their cash back
frances

Pauly & me went to Courts at Woodseats at the weekend we were totally unaware of all this business going on... Wondered why it was closed doh!

Mind you i am hardly surprised... I had the experience of working for this company...

I never ever when buying large items of furniture pay the full amount up front only a deposit which you can usually do when you buy from a small company as so many of these large companies seem to go bust with alarming regularity.

it just reinforces my plan to always use credit of some sort. Store credit if it's free, credit card otherwise.
The only way i'll pay in cash or debit for something expensive is if i walk out of the store with it.

[QUOTE]Originally posted by Cyclone
it just reinforces my plan to always use credit of some sort. Store credit if it's free, credit card otherwise.
The only way i'll pay in cash or debit for something expensive is if i walk out of the store with it. [/QUOT

I definitely agree with you here.

http://www.theretailbulletin.com/index.php?page=5&cat=news&id=5437&PHPSESSID=8bb65f05d360b133f161008cd7ea7cd1

There were lots of cars in the Corby distribution center car park today. No lorries. Closed loading bays. Locked gates.

Maybe i am a little slow :? I will find out no doubt lol

I was with a member of my family yesterday who brought it to my attention that its not just woodseats that has gone into liquidation as i first thought... Doh! its the whole of the Company... Ok yeah i'm slow on the up take lol

Anyway apparently courts are opening their doors this weekend to the public... If you weren't aware of course...

Well if you want a bargin or 2 i guess thats the place to be

I do apologise if this is old new :? :lol:

The recievers have decided it's best to continue trading for the time being and all deposits are being honoured. At least that's what it said on the news..... a couple of days ago now

Originally posted by Strix
The recievers have decided it's best to continue trading for the time being and all deposits are being honoured. At least that's what it said on the news..... a couple of days ago now

I will not be at all surprised if Courts fold... They're a shocking company too work for...

Courts' director found hanged (http://money.guardian.co.uk/businessnews/article/0,11507,1411188,00.html)

Press Association
Friday February 11, 2005

James Jacobs, a director of failed furniture firm Courts, hanged himself after losing his pension in the company's recent collapse, it emerged today.

Mr Jacobs, who was 61, was found by his wife hanging in stables at their home in Oxton, near Nottingham. His family had reported him missing earlier that day.

<snip>

The company was founded in 1850 and has 350 stores worldwide, 100 of which were in the UK. It went into receivership at the end of November with debts of £280m.

It is thought the group's pension pot carries a deficit of around £14m. Members of the scheme have called on the pensions ombudsman to investigate after it was reported that a director, Howard Cohen, had legally transferred £3.9m out of the group fund and into a personal pension scheme in March 2004.

Originally posted by Abdul
Courts' director found hanged (http://money.guardian.co.uk/businessnews/article/0,11507,1411188,00.html)

Press Association
Friday February 11, 2005

James Jacobs, a director of failed furniture firm Courts, hanged himself after losing his pension in the company's recent collapse, it emerged today.

Mr Jacobs, who was 61, was found by his wife hanging in stables at their home in Oxton, near Nottingham. His family had reported him missing earlier that day.

<snip>

The company was founded in 1850 and has 350 stores worldwide, 100 of which were in the UK. It went into receivership at the end of November with debts of £280m.

It is thought the group's pension pot carries a deficit of around £14m. Members of the scheme have called on the pensions ombudsman to investigate after it was reported that a director, Howard Cohen, had legally transferred £3.9m out of the group fund and into a personal pension scheme in March 2004.
I think this is very sad. I realise that lots of consumers have lost money, and worse, some people may have lost pensions they were counting on. However, for this man to take his own life he must have been very ashamed. My thoughts are with his family.

K x