Zaavi - are the administrators just a bunch of ***** or what?

starsparkle2311

It is a bit pants yes

barky

I agree its unfair but its not zavvis administrators that are at fault-its uk insolvency law-they are only doing what they must by law.

all voucher holders have to join the list of creditors-any vouchers bought after 27th when they went into administration will be refunded in full by post-any bought before that are almost worthless as these creditors will be at the bottom of the queue and will likely get about 2 pence in the pound if they are lucky.

Bexxa

I think this is just the start.. over the next year you will see this a lot more. Grab the bargains while you can as the wont be around for long. china and india are feeling the pinch big style and the price of oil is falling fast... this is just the beginning...

allstar2

why blame the administrators.

Zavvi management are solely responsible for putting the company in adminstration.

Tbh what they do might seem unfair but its the way things are..voucher holders are now considered creditors on par with all those other owed money by Zavvi. It would be unfair to have it otherwise because everyone is equally entitled to recieve their money.

disneyfan

barky:
I agree its unfair but its not zavvis administrators that are at fault-its uk insolvency law-they are only doing what they must by law.

all voucher holders have to join the list of creditors-any vouchers bought after 27th when they went into administration will be refunded in full by post-any bought before that are almost worthless as these creditors will be at the bottom of the queue and will likely get about 2 pence in the pound if they are lucky.

Yea perhaps its not the administarators but someone has certainly deliberately scre*** people over. Selling vouchers right up to christmas. That can't be an accident, anyone honestly think its not a deliberate act? Someone should be shot. Management perhaps. They have stuffed up the staff as well so why not?

emasu

:
This has got to be taking mercenary to a new degree don't you think. There was no hint that zavvi were going to go under (no more so than anyone else that is - Ive unloaded my HMV vouchers already, just in case!) and they let people go on buying vouchers right up to christmas. They must have known what they were doing surely.

It was in the news that they were crippled by the collapse of Woolworths and Entertainment UK.

http://news.bbc.co.uk/1/hi/business/7761356.stm

It became clear at the start of December that they were going to struggle, and when the debt got called in, they flopped.

thesaint

At last...

LJM

ive not bought vouchers very much in the past because I dont really like the idea of them but will definitely never buy them again for anything now.

barky

LJM:
ive not bought vouchers very much in the past because I dont really like the idea of them but will definitely never buy them again for anything now.

totally agree-wouldnt buy vouchers for any shop now-also am currently trying to buy a sofa but there is no way I am giving any furniture store my money until they deliver.

most of em seem to think its reasonable to ask you to pay a thousand quid or more and promise delivery 8 weeks later-absolutely no chance I am doing that!

raykhan

I have a few vouchers for zavvi ,when the company gets taken over will i be able to use them or are shall i use them as toilet paper now

clublasanta

Some facts for you, Zavvi stopped selling gift cards on the 4th of december so did not sell up to xmas, get your facts right. On 27th of november euk went into administration, there supplier, on that day they opened a separate trust fund which would not be accessible by the adminstrators, so that is why if you bought a gift card between 27th nov to 4th dec you will get a refund, before that date remeber euk was in business and Zavvi was trading as normal.I think they did all they could to protect customers after EUK went.
You cant spend your gift cards because ernst and young wont let you, not zavvi, they have no say now.

disneyfan

Ok then, 1st thing, I know people who have bouhgt gift cards since the 27th, so... either you need to get your facts right

, or the shop staff who sold them need to be kicked in the nuts

. 2nd, this is the first I have seen or heard regarding a 'trust fund'.

A note in the stores advising customers of this would be a good idea, if it in fact exists. Will be interesting to see if you can find anything in writing about that. Please post it if you do, would be a great help to those with cards.

clublasanta:
Some facts for you, Zavvi stopped selling gift cards on the 4th of december so did not sell up to xmas, get your facts right. On 27th of november euk went into administration, there supplier, on that day they opened a separate trust fund which would not be accessible by the adminstrators, so that is why if you bought a gift card between 27th nov to 4th dec you will get a refund, before that date remeber euk was in business and Zavvi was trading as normal.I think they did all they could to protect customers after EUK went.
You cant spend your gift cards because ernst and young wont let you, not zavvi, they have no say now.

mas

Can't see the attraction of exchanging hard earned cash with a piece of paper that may or may not worth anything no matter how pretty they may look, clearly when things go wrong the gift card holder is in the bottom of the pile. Put the cash in the envelope, this way they can walk in any shop and buy anything they want. Very unlikely to be told I am sorry UK has gone to administrations so we won’t be accepting your pounds from today.

magicjay1986

Do you know anything about business formation and general insolvency laws?!?

Zaavi - are the administrators just a bunch of ***** or what?

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