Washing machine rental company gone bust?

punkgirlyuk

First of all, i haven't been able to find out, so does anyoe know what has happened to Andrew McCulloch's (Cambridge area), they are a rental and retail company for appliances etc, last i heard they had until beginning of November to pay a large tax bill or they would be liquidated.
Secondly, if they are liquidated what wil happen to the washing machine that i rent off of them, will it be taken as assets? Would i get chance to buyit?

fluffybunnies

I would guess that the administration company would want it but most probably would let you buy it back off them, not sure of the legal position thought.

Hope you get some answers

Mankysteve

I would presume the administration would prefer you to keep paying until the business is completely shut down and then may offer to sell it too you as it would cheaper than them sending someone to pick it up and sell it on again. Find out who the admin comapany is if they fold and make them an reasonable offer.

PasturesNew

It's a shame, they were an Institution in the area. I think my dad even worked for them as a Saturday job when they started up in 1958 (need to check with him).

It seems they had a meeting and they've gone under due to owing money. It's being dealt with by Peters, Elworthy and Moore.

You'll receive a letter at some point telling you what will happen.

The machine belongs to them, so you need to keep paying for it.

They might sell the customer list/assets to a similar company, at which point you'd just start paying the rental to some other company.

If they can't find a buyer then I'd expect them to offer the machines to their existing clients for token amounts as the cost of administering, collecting, selling them all would far outweigh what they'd get back in.