What's happening with CEX??? Should I wait? or buy a Wii now? - HotUKDeals
We use cookie files to improve site functionality and personalisation. By continuing to use HUKD, you accept our cookie and privacy policy.
Get the HUKD app free at Google Play

Search Error

An error occurred when searching, please try again!

Login / Sign UpSubmit

What's happening with CEX??? Should I wait? or buy a Wii now?

tianuk3 Avatar
8y, 3m agoPosted 8 years, 3 months ago
Basically I have about £140 in CEX vouchers, I've heard that CEX is in liquidation, but does that mean they will suddenly dramatically cut prices of their items? or does it mean I should buy asap? I want to get a Wii, but should I buy now? or wait? any suggestions?

Thanks Guys
Tags:
Other Links From CeX:
tianuk3 Avatar
8y, 3m agoPosted 8 years, 3 months ago
Options

All Comments

(20) Jump to unreadLocked
Comments/page:
#1
I'd like to know too :)
#2
i may be wrong but if there in liquidation deos that mean that the recievers now own the stock.
#3
http://www.gazettes-online.co.uk/ViewGazetteDocument.aspx?src=search&atdocid=4951667&pg=1&GeoType=London&st=basic&all=cex

says it's HM Customs who have issued the petition.


Date:
17 July 2008
Issue Number:
58768
Page number:
10798

Publication Date: Thursday, 17 July 2008

Notice Code: 2450

Petitions to Wind Up (Companies)

In the High Court of Justice (Chancery Division)

Companies Court No 3062 of 2008

In the Matter of C.E.X. LIMITED

and in the Matter of the Insolvency Act 1986

A Petition to wind up the above-named Company of Sterling House, Fulbourne Road, London E17 4EE, presented on 14 April 2008 by the Commissioners for HM Revenue and Customs, of Somerset House, Strand, London WC2R 1LB, claiming to be Creditors of the Company, will be heard at the Royal Courts of Justice, Strand, London WC2A 2LL, on 30 July 2008, at 1030 hours (or as soon thereafter as the Petition can be heard).

Any persons intending to appear on the hearing of the Petition (whether to support or oppose it) must give notice of intention to do so to the Petitioners or to their Solicitor in accordance with Rule 4.16 by 1600 hours on 29 July 2008.


The Petitioners’ Solicitor is the Solicitor to HM Revenue and Customs, Solicitor’s Office, East Wing, Somerset House, Strand, London WC2R 1LB, telephone 020 7438 6363. (Ref SLR 1235471/37/J.)


17 July 2008.



The status has now changed to
Company Details

Name & Registered Office:
CEX (FRANCHISE) LIMITED
STERLING HOUSE
FULBOURNE ROAD
LONDON
E17 4EE
Company No. 05583389

Status: Active - Proposal to Strike off
Date of Incorporation: 05/10/2005

Country of Origin: United Kingdom
Company Type: Private Limited Company
Nature of Business (SIC(03)):
7499 - Non-trading company
Accounting Reference Date: 30/06
Last Accounts Made Up To: 30/06/2007 (DORMANT)
Next Accounts Due: 30/04/2009
Last Return Made Up To: 05/10/2007
Next Return Due: 02/11/2008
Last Members List: 05/10/2007

got this from there website forums...
1 Like #4
Buy now, other people with vouchers will also want to use them and they may sell out of wiis/consoles/things you want pretty fast.
#5
I typed it 'cex' and 'cashback' to see if there was quidco etc and came on this thread at mse:

http://forums.moneysavingexpert.com/showthread.html?t=1034039

I also checked the cex forum and found this thread:

http://forums.cex.co.uk/viewtopic.php?t=6796

I've done quite a bit of research on this and there's very little actual information. Mods can only relay what they've been told. The truth however is 600+ people have had bad cheques from cex.co.uk with many stores without the cash flow to buy anything. The website seems to be ok at selling items but i'll see if it turns up. There was a delay in paying the frontline staff which has (according to the cex mods) now been settled.

There is a way to protect yourself if there's a problem. Pay using credit card. It may be more hassle but if you pay by cash you'll be treated as a creditor the same as any supplier owed money by cex. The government will want their taxes first so you'll get a share of what's left (if your lucky) which might be only a fraction of what you paid. Debit card depends on the bank so you might be ok but I wouldn't risk it. If you've got any vouchers for any company get rid off them now. I remember when Alders had the administrators in; the refusal to take gift vouchers were the first thing to happen. If cex goes into administration then vouchers are worth nothing. To be as safe as possible trade for cash and buy using credit card. Just look at how many companies are struggling and collapsing. Fuel and food prices increasing by obscene levels. We're in a recession and it's only going to get worse. I'd would have expected a pawn shop like cex to be doing well but it looks like with the recession people are trading in and not buying. Maybe it's just me but does anyone else feel things are about to get a hell of a lot worse for this country.

@ the op. When Alders cut prices vouchers were no longer valid. When MVC cut prices their MVC points became worthless without warning (I bloody had some as well). From my experience by the time it gets to that stage they're desperate to make as much in a hopeless attempt to either keep afloat and try to pay their creditors. At that stage they won't want to honour vouchers as the money has already been spent. They'll lose money by honouring it and why worry about ill feeling from you when they're desperate for survival.
#6
thanks for the input, you are all probably right. If they reach liquidation then they will sell everything cheap but will no longer accept vouchers, so I might aswell just buy now, ill just buy a wii tomorrow then, and then sell it on ebay as all i want is the cash.
#7
http://forums.moneysavingexpert.com/showthread.html?p=12809165#post12809165

http://forums.moneysavingexpert.com/showthread.html?p=12809115#post12809115

After reading these, I recommend people should be careful as if you send stuff to them, you probably have to wait forever for your payment.
#8
Just been instore to CEX and they are turning down their own vouchers now.

All is not well me thinks.
#9
gamesrus
http://www.gazettes-online.co.uk/ViewGazetteDocument.aspx?src=search&atdocid=4951667&pg=1&GeoType=London&st=basic&all=cex

says it's HM Customs who have issued the petition.



got this from there website forums...


That was CEX winding up the old trade name . They haven't traded using that name for a while , they use a similar name now (It's still trading as Cex obviously)
#10
MrSharpshooter
That was CEX winding up the old trade name . They haven't traded using that name for a while , they use a similar name now (It's still trading as Cex obviously)


Either way, word and mouth, they are not buying items in for cash and they are turning down their own credit notes.

Sounds like they're up the creek to me. :whistling:
#11
Whats the link to the CeX facebook page ? I seem to have lost it from my favourites :-(
banned#12
Monkey nuts 2
Either way, word and mouth, they are not buying items in for cash and they are turning down their own credit notes.

Sounds like they're up the creek to me. :whistling:


I paid with vouchers (£100 +) at cex watford today (after 14:00)....?
banned#13
MrSharpshooter
Whats the link to the CeX facebook page ? I seem to have lost it from my favourites :-(


Go to facebook and seach for CEX!
#14
stevenpcurtis
I paid with vouchers (£100 +) at cex watford today (after 14:00)....?


I'm glad to here but I doubt the two customers in Kingston upon thames will be too chuffd.

I'm steering clear.
banned#15
Monkey nuts 2
I'm glad to here but I doubt the two customers in Kingston upon thames will be too chuffd.

I'm steering clear.


Why? Thats my local CEX.
banned#16
Monkey nuts 2
I'm glad to here but I doubt the two customers in Kingston upon thames will be too chuffd.

I'm steering clear.


Possibly the right thing to do. Their business model is very strange, but they have franchises I believe so it might be difficult to see the whole chain going (Watford is the 'home' branch so maybe the franchises doubt they'll get their money back from CEX for vouchers from other branches?). The rumor made me make the trip there to spend all my vouchers...enough said?
#17
I've went and spent my voucher ... online , my nearest store is over 30 miles away so it was the only option . I've used a credit card so if anything does go wrong I should be fine .
#18
My store has just opened in Middlesbrough and is doing very good business. Obviously may still be in the red though...
#19
Hi folks,

I am new to this forum, but as a former employee of CEX, i read all your comments and to be frank, you are all hitting the nail on the head. At one point CEX had all their bank accounts frozen due to not paying their Inland revenue bill. Staff did not get paid for over 2 weeks, they told us a pack lof lies blaming everyone but themselves.

currently OCtober 08, Ipswich branch is not buying in for cash unless your total is less than £20.. what does that tell you??????

they dont care about their staff, they are very unproffesional, with no customer service skills with the majority of their staff. Having seen the buy in prices they are ripping the public off to be brutely honest.

Example: I take (still an employee at this point) a Belkin N1 wireless desktop Card (£49.99) new. used it for one month then decided to go wired. CEX staff email buying department who tell them to buy it in as a generic for.......... £3.00. Now that is a **** take and a half, because you can bet your bollox that by the following day they would have then changed the system as they do every night and it would have gone up o about £30-£35. how do i know this because i have watched it happen.


So judge for yourselves, yes i am angry with CEX, they are unproffesional to the very core. all they have become good for is for the local addicts to flog there stolen **** for there next £10 bag of ****.
#20
..so three years later and still trading. You guys were WAY off. It may shut up shop tomorrow, but still.

Post a Comment

No more comments can be posted to this thread.
Thanks for your comment! Keep it up!
We just need to have a quick look and it will be live soon.
The community is happy to hear your opinion! Keep contributing!