Paid deposit and company has gone insolvent.

[westtra]

Company that was making out new fitted bedroom units has filed for insolvency. Hoping that our stuff will be made and sitting in there store so we can still do bedroom if the company dealing with the case allows but if not.

I know we are pretty much 4th in line of creditors to receive anything back.

what I am wondering is can I increase my chances of how much that I may receive? If we cant get what we are in process of paying for.

Thanks

[westtra]

Unfortunately not as other half doesn't have one and I was away from home when it was payed in cash. We have invoices etc. So traceability of whats been paid.

[westtra]

Yes was £2k. Had a kitchen fitted by them couple years ago with no problems so didn't think it would be an issue. Have tried phone and email with company and no joy. Have emailed receivers and waiting a reply as well.

As you say not holding out hope just seeing if I can increase the odds of what we may get back.

[westtra]

Well found out today that our stuff had not been made yet so just have to wait to see if we get any money back.

[westtra]

This is the company

https://beta.companieshouse.gov.uk/company/SC28361...

[westtra]

Red Devil said:

Your O/H paid a £2k deposit in cash. Madness. I bet the company was over the moon with that.

One look at the financial statemenst shows that the P&L a/c bombed in 2012. The plunge continued the following year.
There was recapitalisation in April 2016 in an effort to shore up the balance sheet.
It clearly didn't work because the company began factoring their sales ledger in September last year.
https://s3-eu-west-1.amazonaws.com/document-api-im...

Like any other form of borrowing, this does not come without a cost.
https://www.ultimatefinance.co.uk/our-products/inv...
Borrowing against unpaid invoices in order to boost cash flow is a high risk strategy.
I have seen too many small company directors go down this road before and come unstuck.

I'm afraid the chances of the OP and his O/H seeing any of their £2k again are zero.

Thanks for that and yep not expecting much if any back. Wife is now banned paying deposits. Wasn't supposed to pay that much to them as transfered money for her and deposit at same time and she went and blew the lot on the bedroom(1/3 as opposed to 15% i was expecting).