Credit Notes and closed businesses

rik67_ni

I have had a credit note for £ 1100 with a local jewellers since 2008. I have been waiting to use it to purchase a wedding ring and was last speaking to the jeweller in January 2013 regarding this. He asked me when the wedding was and told me to come back to see him in 6 months as he told me platinum prices were dropping and I'd get more for my money then.

Low and behold this week I noticed that it appears his shop has closed. It doesnt look like he has changed premises. He did not contact me so I would like to know if there is any process I can go through to try and get some of my money back?

Thomas_Hardy

Limited company or sole trader?

arcon5

Unlikely.

He's probably closed because he's run out of cash. Although if he's a sole trader it would increase the chances of recovering your money, but it wouldn't take many cases like this before bankruptcy becomes a viable option, especially if there is large business loans or similar hanging over him. Although it would then depends what assets he owns and if appropriate how much equity is in his house.

If ltd company then the odds of getting anything back are pretty much nil if the company is insolvent.

unholyangel

You could also check what the status of the company is on companies house and if their accounts are filed.

May give you a better understanding of where the company was financially as well as giving yourself an idea about where you stand and whether it may be possible to recover the money.

Why did you originally have a credit note? It may be a bit of a long stretch but if you originally purchased something that was faulty and paid with a credit card.....could try a section 75 claim?

rik67_ni

As far as I know he was a local independent jeweller.

The reason I have the credit note is that I had bought a engagement ring from in 2008 but had to return it at my fiancee's behest for a different style. The £1100 difference was given to me as a credit note in order to put towards the wedding bands.

He told me at the time that he wouldnt be able to refund me in cash as the original ring was not faulty.

Some of the prevoius posters kindly mentioned services that I can use to check out his company status? Would anyone have anymore details on this?

Thanks in advance!

Evilm

Companies house's register of companies is here: http://wck2.companieshouse.gov.uk//wcframe?name=accessCompanyInfo

Its also worth putting the company name through here (Which is the Gazette and gets legal company related notices - it might appear here before it appears on the above site): http://www.london-gazette.co.uk/

Note : I've assumed you are in England and not Scotland or Ireland - if either of those you need the Edinburgh or Belfast Gazette instead.

2nd Note: Beware that the trading name might be different from the legal company name if it is registered. It should mention that on the credit note if that is the case (eg. Company Limited trading as Jewelers Name).

rik67_ni

Sorry I should have mentioned I was in Northern Ireland.

I had initially thought I might be in the same boat as people who had unspent Gift Vouchers when HMV went into administration and the company initially wasn't going to honour the vouchers.

Then I realised that I could be worse off as if he closed his own business its not like I have administrators to try and claim from.

Would I legally be entitled to try and claim the money off the shop owner himself via something like the small claims court if his shop has been wound up?

wealdroam

rik67_ni wrote: »

Would I legally be entitled to try and claim the money off the shop owner himself via something like the small claims court if his shop has been wound up?

The answer is needed to the question in post #2 before your latest question can be answered.

Simply, if it's a limited company then the directors are protected to some extent.
It it's not a ltd co, then the proprietor may well be liable, but has he any money?

Evilm

First link stays the same and the second one is now http://www.belfast-gazette.co.uk/

It really depends on a lot of things - however its quite a bit different from the big retail companies as they are quite often shut down earlier and more controlled than a small single owner business.

Does he appear to be limited or not? Also try putting his name into the Gazette and seeing if any recent items come up.