Virgin Vie?

onehappycamper

nikkiuk wrote: »

When Herr Spikker sent his team in to the warehouse to asses before the move to Germany there were millions of pounds of unsold stock

I'm pretty sure they would have know this when they bought the company??

Ypaymore

Here is a link http://www.london-gazette.co.uk/issues/59871/notices/1416774 to the appointment of liquidators in Aug 2011.


Recent addition to http://en.wikipedia.org/wiki/Vie_at_Home

"August 2011 Vie at home Ltd. files for liquidation, writing off over £2million worth of debt to suppliers and HMRC. The brand 'Vie at home' continues to trade under another company Vie Cosmetics Group Ltd. using new suppliers, particularly in logistics (as they are writing off a debt to Interlink of £16k) and £12k to their PR Agency plus their design agency of £37k [18] Their Cosmetics were historically bought by another group company (Vie Cosmetics (Purchasing) Ltd.) this company is also in administration and explains why they have not declared any monies owed to the manufacturers of their product."


Hopefully this will sort there problems out so the reps can still earn a crust.

onehappycamper

Ypaymore wrote: »

Hopefully this will sort there problems out so the reps can still earn a crust.

Yes but surely a better option was for the new billionare owner to pay off the old suppliers for the stock the company had sat in the warehouse rather than sell it to their new company for pittance and then not pay the people who made the stock in the first place?

Don't get me wrong, I think it's great that people kept their jobs (especially at the moment!) but they are now surely in the position of having to find all new manufacturers for their products, if the company has so much cash why not just pay their bills and keep using their old suppliers?

I wonder what is going to happen to the old Directors of the company, this is not, I understand the first time this company has been through this 'phoenix' trading pattern of writing off debt by going into Liquidation? Surely someone should have noticed that they were in trouble before it got to this stage?

I assume as it used to be (3 years ago) part of the Virgin Group the buyers etc were just used to having an almost limitless pot of cash but when that ended surely they should have taken steps to protect their creditors and stop taking on more debt?

Spending thousands of pounds of big conferences, fancy 5* trips to Las Vagas (As they did this year) for the corporate staff plus the sales reps etc. seems to me they were 'keeping up appearances' rather than admitting the seriousness of the situation they were in - how long exactly were they trading insolvently - I heard from someone that the company had only ever 1 year in the history of Vie Cosmetics/Vie at home made a profit - totally unsustainable surely!

Ypaymore

"September 2011 On 16 September 2011 it was proposed the holding company and owner of the brand 'VIE' was struck off of the Register of Companies,[17] having never submitted acccounts since the Group was removed from the Virgin Group in December 2008.
On 26 September 2011 the Administrators of the purchasing company (VCP) issued a Statement. [18] The document explains the Directors (Ros Simmons and Ratan Daryani) had been trying to sell the group since it was bought from Virgin Group in 2008. The company owes among other, it's outsourced warehouse company £680,000, the Centre de Recherches Biocosmetic £191,501.98, Intercos Italia S.P.A 123,914.40, Schwan-Stabilio Cosmetics GMBH £117,728.30. The total amount owing by the company is £5,219,301.74. The Administrator notes there is little liklehood of anyone other than the Warehouse (Who have exercised their right to take charge of the companies stock in exchange for payment) receiving payment. [19]"

http://en.wikipedia.org/wiki/Vie_at_Home

mandij87

VIE at Home is now owned by a German company called NWA. The owner of NWA is Helmut Spikker, a very successful businessman who owns several party plan companies in the NWA group. In the last few months, Pierre Lang jewellery and Bluebox perfume has been launched in the UK exclusive to VIE at Home. Pierre Lang is the largest jewellery manufactorer in Europe. VIE is not in trouble and with the support and experience of Mr Spikker and his team, VIE will get bigger and better then ever!

KingLarsson

mandij87 wrote: »

VIE at Home is now owned by a German company called NWA. The owner of NWA is Helmut Spikker, a very successful businessman who owns several party plan companies in the NWA group. In the last few months, Pierre Lang jewellery and Bluebox perfume has been launched in the UK exclusive to VIE at Home. Pierre Lang is the largest jewellery manufactorer in Europe. VIE is not in trouble and with the support and experience of Mr Spikker and his team, VIE will get bigger and better then ever!

hmmmm taking its time to happen then, worst i have ever seen it

onehappycamper

mandij87 wrote: »

VIE is not in trouble and with the support and experience of Mr Spikker and his team, VIE will get bigger and better then ever!

Is this still the case? The website has been down all weekend?

missterryshopper

onehappycamper wrote: »

Is this still the case? The website has been down all weekend?

If you call their 0845 number they just play a message saying that due to unforseen circumstances they cant answer you.

http://www.vieathome.com still not available.

Ypaymore

Recent comments on their FB page seem to indicate they have problems.https://www.facebook.com/VIEathomeofficial/posts/10151193127275721#!/VIEathomeofficial

walker123

From the looks of Companies House they went into liquidation on 19 April 2012.