MORE HELP FOR SQUIF (AGAIN) bankrupt stock? anyone????????

Squiffythewombat · Post by **Squiffythewombat** » Tue Aug 23, 2005 12:02 pm

Hi Guys,

You are all so helpful and i was wondering, yet again, i know if i could pick the brains of a few of you? As you may already know im just starting my own company retailing models.

Its come to my attention that a very large model shop in london has gone bust, and after about a billion various phone calls ive got through to the sollictor dealing with the liquidation. Hes going to be ringing me later this week about buying all the old stock.....however....

i have no idea how recieverships etc work? I dont think that anyone else has approached him to my knowledge but does the liquidator still have to send the stuff to an auction or can he just sell it to me straight? is there a legal obligation to hold an auction? If so ive read in a couple of places its normally sealed bids, by tender, or dutch auctions???

ANY info on how this works would be great, as this could be a good break for me and i dont want to screw it up!

THANKS for putting up with my boring drivil!
Toby

iggy1966 · Post by **iggy1966** » Tue Aug 23, 2005 12:27 pm

Squiffy

Firstly the Liquidator will be trying to sell the business as a going concern, ie the name/stock/goodwill/property etc, that will be the easiset option. If no one is interested then he will start splitting it down into lots, there you should have a chance at bidding for the stock etc. If you are the only interested party then he will negotiate directly with you, if there are more then he will look at sealed bids/tender/auction.

The liquidators are there to realise as much money as they can to pay off the debtors, that is there primary function.

Good luck and keep ringing the solicitor as they might sell you the stuff just to keep you off there backs.

Squiffythewombat · Post by **Squiffythewombat** » Tue Aug 23, 2005 12:31 pm

THANKS SO MUCH FOR THAT IGGY :-) YOUR A STAR!

as far as i know im the only person intrested as when i rung they were really shirty and a bit "off" as they thought i was a creditor wanting cash, but when they found out i was after the stock they VERY quickly changed their tune!

Im pretty sure they are not doing anything with the brand name/property as everythings closed and there was no mention of any of this....

So in your opinion its worth me "pestering" the solictor?

ina nutshell the liquidator is there to make as much money from whatever stock was left over to pay the creditors ? thus to say, for example; he makes 2k from all the stock, and theres 10 people owed cash, that 2k is then split into ten?

iggy1966 · Post by **iggy1966** » Tue Aug 23, 2005 12:40 pm

Yep, the creditors only get a percentage of the money owed to them.

Pester him but not too much as they have good secretary's that will deflect your calls if you get to be a pain

VTRgirl · Post by **VTRgirl** » Tue Aug 23, 2005 3:27 pm

Sounds like a great opportunity, Squiffo. Good luck with it!

essexbloke · Post by **essexbloke** » Wed Aug 24, 2005 8:37 am

Squiff, Just a quickie (ooh err),

I collect die cast bike models. Are you dealing only with self assembly kits? or venturing into the above?

I try to stick to 1/10th models of race bikes, (signed wherever possible)... but do buy smaller/larger, depending on model/quality etc.

got any catalgues of your stock yet? Website?

Cheers...

Squiffythewombat · Post by **Squiffythewombat** » Wed Aug 24, 2005 10:28 am

hey essex bloke,

Im not stocking diecast as yet, as its a minefield to say the least, however:

i do stock the tamiya, 1:12th and 1:6th bike kits. Tamiya also do a "factory build" version of their kits which are really incredable models, i would say much better than any maistro or corgi crud!!

I also have a back log of a few various diecast things, and theres a couple of bikes in there somewhere, i can have a look if you like. Im always being offered various bits and bobs and can keep you in mind for the metal bikes if you like?

I dont have a website as of yet as im still in the process of setting everything up at the moment! Although most of my stock can be seen at http://www.tamiya.com. I also stock revell, airfix, and all the other usal kit base manufacturers. I do have a stock list for second hand kits but im assuming thats of no intrest to you....

I'll let you guys know how i get on with the liquidation blah, although the guys on hoilday till friday the @}{(*)~!

essexbloke · Post by **essexbloke** » Wed Aug 24, 2005 1:49 pm

Cheers bud, bear me in mind for any "nice" race rep die casts or decent kits you come across. You know the scale (mainly 1/10 or 1/12) mainly interested in either superbike or GP style

Squiffythewombat · Post by **Squiffythewombat** » Wed Aug 24, 2005 1:54 pm

hey essex, i can get a 1:12th super detailed kit of any gp bike (or some older ones) for retail for you, just say the word! They retail for around Â£18-9 and are obviously kit form. However i dont think you will find a better kit than the tamiya ones as they are so perfect inmo, ask trebs :-)

Revell also do some GP bike kits in 1:9th which are quite impressive, although the attention to detail is not as good as the tamiya kits inmo, mind you with such a large scale, lots of very intrecate parts can be added.

I would say with diecast your much more limited to the levels of detail and realism that you can achieve compaired to kits, but then with a kit, you have to put the hours in and devolp at least a moderate degree of skill with your hands...

Diecast bikes tho; i will keep my eyes peeled matey, anything comes my way i will let you know asap!

Happy Riding (eevn tho its pi$$ing it down here
Toby

RAINMAKER · Post by **RAINMAKER** » Wed Aug 24, 2005 9:35 pm

Wish you all the best and will like everyone on here offer support in a practical way.........ie buy something.
Advertising is the key,
Tea shirts with web address worn by everyone here with vtr.org on the back ? any your site picture, someting identifiable with yourself.
WOMBATS SQUIFFY MODELS ?

RAINMAKER · Post by **RAINMAKER** » Wed Aug 24, 2005 9:36 pm

bUT YOU'LL NEED SOMEONE WHO CAN SPELLL PROPER

Squiffythewombat · Post by **Squiffythewombat** » Wed Aug 24, 2005 9:40 pm

thats why i have my sister as my personal spell checker, LOL!

Yeah ive got this transfer paper thru the printing company so am going to make my own t-shirts. the company name is "Air, Land & Sea" as i wanted something to reflect the various sides of the hobby!

and your right, its sooooooooooooooo abuot advertising, once biggin hill is out the way and provided i get a roughly decent respsonse i will be on an all out mission for a website as i think thats really the way forward these days!.

Thanks for the support ;-)

Toby