CEX stores in trouble? Time to use CEX vouchers? (FAO holders of CEX voucher in FS/T) - HotUKDeals
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CEX stores in trouble? Time to use CEX vouchers? (FAO holders of CEX voucher in FS/T)

Liddle ol' me Avatar
8y, 4m agoPosted 8 years, 4 months ago
Just to warn people buying and selling CEX vouchers here that things might be afoot with CEX. This may only be a rumour (see next post)

I know this is more appropriate in Misc, which is where I saw the information first. But I thought it might be useful for members in thi FS/T forum who don't visit Misc.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Mods have moved to Misc now
- Liddle ol' me

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and now it's back in FS/T (Thanks!)
- Liddle ol' me
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Liddle ol' me Avatar
8y, 4m agoPosted 8 years, 4 months ago
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1 Like #1
May not be nationwide but there are links on the thread suggesting that the whole company might be in insolvency proceedings. Judge for yourself, but you might want to consider using that voucher before it is too late... http://www.hotukdeals.com/item/219430/cex-northampton-are-they-going-unde/

And this thread elsewhere http://forums.moneysavingexpert.com/showthread.html?p=12778845

EDIT: I just want to add that all this is heresay and rumour at this stage, some of it by newbie posters on the forum link above. Please judge for yourself after reading through all the posts if you are concerned. I'm not trying to fuel the rumours, just point out that they are there. Hopefully it adds up to nothing.
#2
luckily i dont have one near me but this is great info! have some rep lol
Liddle ol' me;2604511
May not be nationwide but there are links on the thread suggesting that the whole company might be in insolvency proceedings. Judge for yourself, but you might want to consider using that voucher before it is too late... http://www.hotukdeals.com/item/219430/cex-northampton-are-they-going-unde/

And this thread elsewhere http://forums.moneysavingexpert.com/showthread.html?p=12778845
#3
Why the hell are you posting this here?

This forum is for trading ONLY.
#4
because some people trade and sale them here and do not go into misc! so he is letting people in here know! i dont go into misc so would never have known this if not posted here!
mmcg;2604526
Why the hell are you posting this here?

This forum is for trading ONLY.
#5
mmcg
Why the hell are you posting this here?

This forum is for trading ONLY.


Nice response... I answered that question in the OP. :thumbsup:
1 Like #6
I actually phoned up CEX and asked to speak to the director to find out whats going on, bout an hour later get a call back from a really chirpy, chatty guy, said he was the director and his name was Hugh Man??? Not sure if that was meant to be a joke, but anyway, he claims he knows nothing about it at all, told him about the Northampton one and he reckons that CEX have a "buy back" policy and that if any franchise owners are struggling CEX will buy back the franchise at the full value. He also said that you need to have £150,000 in working capital to be considered for a franchise and so its unlikely that any branches are going bankrupt. He did let on that the guy who has the Northampton store also has 2 others.
Could all be spiel, but he sounded genuine enough.
#7
nice info! why would the cheques be bouncing? are they from store level or head office level?
masterbrown;2604604
I actually phoned up CEX and asked to speak to the director to find out whats going on, bout an hour later get a call back from a really chirpy, chatty guy, said he was the director and his name was Hugh Man??? Not sure if that was meant to be a joke, but anyway, he claims he knows nothing about it at all, told him about the Northampton one and he reckons that CEX have a "buy back" policy and that if any franchise owners are struggling CEX will buy back the franchise at the full value. He also said that you need to have £150,000 in working capital to be considered for a franchise and so its unlikely that any branches are going bankrupt. He did let on that the guy who has the Northampton store also has 2 others.
Could all be spiel, but he sounded genuine enough.
#8
masterbrown
I actually phoned up CEX and asked to speak to the director to find out whats going on, bout an hour later get a call back from a really chirpy, chatty guy, said he was the director and his name was Hugh Man??? Not sure if that was meant to be a joke, but anyway, he claims he knows nothing about it at all, told him about the Northampton one and he reckons that CEX have a "buy back" policy and that if any franchise owners are struggling CEX will buy back the franchise at the full value. He also said that you need to have £150,000 in working capital to be considered for a franchise and so its unlikely that any branches are going bankrupt. He did let on that the guy who has the Northampton store also has 2 others.
Could all be spiel, but he sounded genuine enough.


Good for you. That's what I like to hear. Btw, did you just hear the rumour here too or have you heard it somewhere else as well?
#9
CEX Executive Board


Robert Dudani
Commercial & Strategy
Director


Peter van Veen
Chairman


Julie Boult
Financial Director


Dave Mullins
Operations Director
#10
Liddle ol' me
Good for you. That's what I like to hear. Btw, did you just hear the rumour here too or have you heard it somewhere else as well?


Just on here, he actually gave me his mobile number so if anybody has any specific questions pm me and I'll pass it on (better not post it on here or might get into trouble :oops:)
#11
mmcg
How about we get some mods in here then?

Or hey, maybe I should start posting my sales threads in the Deals section to get more hits?


Don't worry, I'm sure the mods will be here soon enough. I realised when I posted it that it mightn't last long, but as the responses show, most people think it's useful info - even if it only turns out to be a rumour and, yes, even if it's technically in the wrong forum. But that has been explained and everybody else seems to agree that you a little OTT on this one. But anyway, go ahead and report the post. If the mods haven't already seen it then I'm sure they will be glad to register your complaint and pull the thread. Then you can get back to being Mr Happy :)
#12
masterbrown
I actually phoned up CEX and asked to speak to the director to find out whats going on, bout an hour later get a call back from a really chirpy, chatty guy, said he was the director and his name was Hugh Man??? Not sure if that was meant to be a joke, but anyway, he claims he knows nothing about it at all, told him about the Northampton one and he reckons that CEX have a "buy back" policy and that if any franchise owners are struggling CEX will buy back the franchise at the full value. He also said that you need to have £150,000 in working capital to be considered for a franchise and so its unlikely that any branches are going bankrupt. He did let on that the guy who has the Northampton store also has 2 others.
Could all be spiel, but he sounded genuine enough.


What about the rumours of no staff being paid... did he say anything about that, masterbrown?

Hugh Man does sound like a made up name though, hehe!
#13
hodsey77
What about the rumours of no staff being paid... did he say anything about that, masterbrown?

Hugh Man does sound like a made up name though, hehe!


Said he knew nothing about it at all and asked me for the website (just gave him MSE as did'nt want him seeing this lol).
Yeah I thought that about the name, I think it was meant to be a joke though ;-) do CEX usually have phone systems or something maybe??
Give him a call, see what you make of him :thumbsup:
#15
masterbrown
Said he knew nothing about it at all and asked me for the website (just gave him MSE as did'nt want him seeing this lol).
Yeah I thought that about the name, I think it was meant to be a joke though ;-) do CEX usually have phone systems or something maybe??
Give him a call, see what you make of him :thumbsup:


Just done a search on Google, and Hugh Man IS CEX's Franchise Director, so it wasn't a joke afterall, hehe!
#16
thanks for info liddle rep added
#17
hodsey77
Just done a search on Google, and Hugh Man IS CEX's Franchise Director, so it wasn't a joke afterall, hehe!


Oh ok, probably should'nt of giggled when he said it then :oops: oopsey

Oh yeah forgot, he said that less than a quarter of the store were franchises and that they were run direct by CEX, must admit found that hard to believe as I've always heard otherwise.
#18
#19
I have to say over the last few times i've looked on their website, most of the stuff i've clicked on with the thought to buying has led to no page being displayed. Thought it was just a website problem, but who knows....
[admin]#20
About to delete argumentative posts- cool it down please :thumbsup:
#21
Shengis
I have to say over the last few times i've looked on their website, most of the stuff i've clicked on with the thought to buying has led to no page being displayed. Thought it was just a website problem, but who knows....


Just checked the site and clicked on all the top sellers and a load of games consoles. Every single one of them showed stock as '0'... Maybe we DO have a story here :thinking:
#22
i tried to order metal gear solid twin snakes AND substance yesterday afternoon- when i clicked confirm order it just acted as if i had clicked refresh, has happened to me when they first changed the site so assume its just a technical fault, although earlier ALL prices for everything were set to £0.00 and the names for all products when you clicked on their link had disappeared. they are now back up but basically nothing is in stock, odd as here i am 3 hours later reading all of this!
#23
mickster505
i tried to order metal gear solid twin snakes AND substance yesterday afternoon- when i clicked confirm order it just acted as if i had clicked refresh, has happened to me when they first changed the site so assume its just a technical fault, although earlier ALL prices for everything were set to £0.00 and the names for all products when you clicked on their link had disappeared. they are now back up but basically nothing is in stock, odd as here i am 3 hours later reading all of this!


Yeah that was pretty much what I was getting a few weeks back:thinking: No way to run a business, at least not if you actually want to sell anything....
#24
Sold online due to so many stores saying they've got no money & can only give credit (seems that mighta been try...prob paying their staff the day I went in??!?) but trying to order almost ANYTHING online from CEX has always been a non-starter for me due to a stunning lack of stock & when you factor in that they only have to be "working" games or films I'd rather go instore to find out that the disc is question is a shredded beermat.....
#25
Im hoping its just a website glitch - i meant to order some ps1 memory cards for 50p each, they had 8 yesterday! now down to none, which i think is unrealistic....
#26
gotta respond to this, seems bit harsh, even though there are some efforts to be fair
new to Cex online, but over last few months ordered loads from them, & would reccommend using them.
though there does seem something strange going on, I reckon its cos they a low profit margin company/franchise....look at the prices, some of em must cost what you buy for to post.....wheres the profit margin to pay for web developers? Its probably some schoolboy doing it after his paper round.......that said he's doing fair job
......budget prices, budget website, but good budget stuff

those of you who used (swopex?) now called hitflip, have been here before....conspiracy theories....bankrupcy theories......scam....etc etc.....I shall stick me neck out & say its rubbish

If you order stuff, just checkout quickly, dont scan loads of pages & try to order all in one go as it fails most of the time when you do, acts like a refresh
think its because someone else has ordered & paid for something online whilst you still browsing, item not available, so cex site does not compute
if you remove item from basket, order goes through, but you are given no indication which it is, so its pot luck, its usually the best bargain though
since I started ordering after a few mins its been near perfect, with min order of only £2 you can make a few little orders -its not perfect way, but its easy enough to deal with.

ps1 games cases are often cracked, but cd/dvd/ps2/xbox etc are usually in good condition, mostly with booklets.

dont slate em, they have kept me busy for last few months!

:whistling:
#27
Taken from their forum here: http://forums.cex.co.uk/viewtopic.php?t=6796

Some rumours have circulated that CeX is insolvent.
For the record: CeX is not insolvent.
CeX was on the wrong end of a severe bank clerical error and a small number of cheques were returned. CeX apologises to any customers affected by this and will be issuing new cheques to customers and will also be issuing an extra £10 voucher by way of an apology.
If your cheque was returned please contact our wecare team at [email protected]">[email protected]
Many Thanks

Dominic Durante
Ecommerce Manager
#28
I sent a letter to Cex by recorded delivery on Monday, it's just been returned as 'Refused'. Not looking good...
#29
Today I went to the Manchester cex and they had signs up saying that they were not at the moment giving cash for any items please take advantage of their higher exchange rates. When I went to the till and asked about it the guy said that it was both Manchester branches. I personally am looking to use my vouchers asap just in case. Anybody been to any other cex's today and that branch was also doing this?
#30
All this reminds me of choicesuk. There's no smoke without fire as they say.
#31
There is a link on mse that refers to a winding- up order ,heard on 29th july, by the Revenue.?That doesn't sound good.That is not a bank clerical error is it??
Why havent CEX referred to this at all-do they think no one will find out?
#32
Shengis
All this reminds me of choicesuk. There's no smoke without fire as they say.


Yes, looking more and more like that. I wonder what that guy from CEX who was contacted by someone on this thread would say this time? Same line...?
#33
I haven't had a chance to get out to cex yet but I will be asap. I don't want cex to close, I think the idea of the shop is good and at times is cheap, but their staff and policies need sorting out. If they do close and not refund people their vouchers (which i wouldn't put past them) I feel sorry for people who have £100+ in vouchers.
#34
sqweech
There is a link on mse that refers to a winding- up order ,heard on 29th july, by the Revenue.?That doesn't sound good.That is not a bank clerical error is it??
Why havent CEX referred to this at all-do they think no one will find out?


This is the thread I believe sqweech is referring to... http://forums.moneysavingexpert.com/showthread.html?t=1054819

Makes very interesting reading so far (am halfway through!)
#35
hodsey77
This is the thread I believe sqweech is referring to... http://forums.moneysavingexpert.com/showthread.html?t=1054819

Makes very interesting reading so far (am halfway through!)


Post # 95 makes interesting reading and it might be worth checking the CEX forums ourselves to see if it's exaggerated or not:

"Slightly off topic, but have you guys read the CEX forum on their website? Its full of people not getting their goods, cheques, credits, ect. No one from CEX is posting on there to offer any assurance, and from the posts on the forum they are completely ignoring all calls and emails. Well could be that they are ignoring them or that the staff in that department have not been paid either and they are not actually at work

I just thought i'd take a look see if there was any updates on there, but its looking worse by the day"
1 Like #36
For once i actually have something positive to say about CEX. I've been waiting since March for a voucher after selling to their online shop and have ended up dealing with trading standards. As luck would have it, after a kind member on here supplied me with a new email address for them last week, i managed not only to get a response, an apology, a reassurance that my voucher would be sent, a confirmation it had been sent AND the actual voucher!! I just need to spend it now before they go bankrupt :oops: However, so thankful to whoever it was from CEX's new support centre for ACTUALLY responsing after nearly 5 months :thumbsup:
#37
littlesheepy
For once i actually have something positive to say about CEX. I've been waiting since March for a voucher after selling to their online shop and have ended up dealing with trading standards. As luck would have it, after a kind member on here supplied me with a new email address for them last week, i managed not only to get a response, an apology, a reassurance that my voucher would be sent, a confirmation it had been sent AND the actual voucher!! I just need to spend it now before they go bankrupt :oops: However, so thankful to whoever it was from CEX's new support centre for ACTUALLY responsing after nearly 5 months :thumbsup:


I can understand you are relieved and happy, but waiting five months for them to send the voucher is hardly something to praise them for :w00t: (p.s. I realise you aren't really praising them ;-))
#38
i just had a look at their forum,the staff are sooo rude..and reviews on ciao!,the staff don't come out of it at all well.
1 Like #39
Currently CEX Derby is on 8 days without giving cash out, Nottingham has gone nearly a week without giving cash. Staff are telling customers it is because they have "sent the money to the new stores we have opened" .....which I think is obviously rubbish. How do I know? I hear the complaints of customers in my non-CEX shop (so I dont work for them).

If CEX are in trouble then, as many have said on MSE, the staff will, at store level, be last to know. Derby CEX has, in the past week, had noticeably lower staffing levels than normal - could be coincidental.

I have used them online in the past, but never since they lost a phone back in March, wouldnt admit to it (Royal Mail paid out despite them signing for it special delivery) and showed no interest.

Personally I think they are good, for customers anyway, you used to be able to absolutely milk cash out of them, often making 50-60% just by buying from one place, and sending it to them or taking it to their stores. I guess this is what is killing them but it is their own fault!

Whatever happens, hopefully they will survive or at least pay their staff, if they go under they go under, but hopefully their staff don't suffer for it.
#40
Just got paid £200 for my items from the online store today. Took about a week to pay me which is about the norm for when I sell stuff to them.

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