Courts Closing Down Sale...be quick

JABWootton

Just to inform everyone that Courts will not be opening some shops (Do not know which ones specifically)
Courts are in discussions at the present moment with approx 3 potential buyers who are interested in taking over the company and renaming it from Courts.
As far as I am aware, the purchases made will be honored, it’s just that it may take a little longer due to the administration procedure.

Mumstheword

Why not? They've either been refused or are too stubborn to change.

Bit of a silly statement.
I (and, I suspect, lots of others) don't fit into either of these categories, but have no credit cards. I don't think you thought this through.
Try to be a little less critical of our right to choose how we make our purchases. Feel free to purchase in the way you choose to.

MarkyMarkD

Well, I agree with Red.

If you are solvent (i.e. can get a credit card) and choose to pay cash, you are foolish for three reasons:

(1) you lose out on up to 56 days' interest free credit;
(2) you lose out on up to 1% cashback (or even more on some introductory offers); and
(3) you lose out on Consumer Credit Act protection in case the supplier goes out of business or does you over in some other way.

Accepted that you have to be disciplined enough to pay the bills on time, to avoid charges, but if you only buy things on the credit card that you KNOW you have the cash to pay for, there and then, then you shouldn't have a problem with this.

MarkyMarkD

You would of been perfectly entitled to go and remove any stock that you supplied to them that was not paid for as the title of goods remains the suppliers until they are pain in full. However you would not be entitled to take goods that you did not supply without receiving a court order to begin recovery proceedings, usually a bailiff.

This only applies if that is what your terms of supply state.

In general, title passes when you supply and they owe you the money, not the goods, which precludes you "repo-ing" them.

PhilUK_3

The courts in Southampton in Hedge end will not be opening.. I pop past today..

LOADS of paper stuck on the window from angry customers..

Im not sure if its all over the uk.. i wish i took my camera as there was people there to.. looking very upset!

Mumstheword

Well, I agree with Red.

If you are solvent (i.e. can get a credit card) and choose to pay cash, you are foolish for three reasons:

(1) you lose out on up to 56 days' interest free credit;
(2) you lose out on up to 1% cashback (or even more on some introductory offers); and
(3) you lose out on Consumer Credit Act protection in case the supplier goes out of business or does you over in some other way.

Accepted that you have to be disciplined enough to pay the bills on time, to avoid charges, but if you only buy things on the credit card that you KNOW you have the cash to pay for, there and then, then you shouldn't have a problem with this.

I don't choose to pay cash. I generally use a debit card (visa protected, by the way). This serves me well in numerous ways- no bills at the end of the month to remember to pay- no interest charged if i forget to pay on time (short term memory problems mean that i already have to make notes of important issues) - no charges for drawing cash at the checkout - one card serves all (payment, cheque, cashpoint)
As far as the up to 56 days free of interest, and 1% cashback is concerned, i have worked out the figures involved, and all in all the hassle outweighs the benefit.
Mine is a carefully considered choice. I am certainly not foolish. Far from it. I do find your 'foolish' tag to those of us who opt not to use credit thoughtless at best.

I think we should move this thread along from criticising those who paid cash for their goods. I am sure they already realise, with their own hindsight, that it wasn't the best move, without anone telling them that.

Going_Digital

This only applies if that is what your terms of supply state.

In general, title passes when you supply and they owe you the money, not the goods, which precludes you "repo-ing" them.

Anyone who doesn't operate on that basis must be crazy. I would consider it standard practice that your terms would state "Title of goods remain the property of my-company until payment received in full". If anyone runs a business and does not include that in their terms of supply they should really look closely and get that changed.

MarkyMarkD

Absolutely agreed, GD. My point was, though, that there is no presumption that this is the case. It needs to be there in black and white in the Ts & Cs.

andrew_b6k

if you or your relatives held several thousand pounds of (now worthless) Courts shares and were given the impression that things were okay by the management, would you still feel this way?

i think its silly the way the administrators have dealt with this....just shows how dim some management is...

I mean " anyone who has paid by cash probably wont get their money back...but we are opening in 2 days for a sale....the sell the stuff that these people have already bought"  So what do you think will happen...i reckon those customers will be very happy dont you  ::)

Fozzie_bear_3

Mine is a carefully considered choice. I am certainly not foolish. Far from it. I do find your 'foolish' tag to those of us who opt not to use credit thoughtless at best.

I think we should move this thread along from criticising those who paid cash for their goods. I am sure they already realise, with their own hindsight, that it wasn't the best move, without anone telling them that.

My sentiments too, well said Mumstheword.