Another Wholesaler down.

[alanl]

My preferred supplier, Valmo of South Wigston, Leicester shut down last week.

They have been going for 25+ years, but were brought down by one electrical contractor who didnt pay their bill. Rumours are the bill had got over £100k, and the contractor went bust last week, and re-opened under a different name on Monday, leaving a trail of debts to numerous small Companies and subbies.
It appears it is the 4th time this contractor has done the same thing. How they ever get credit is beyond me, as it is clear he has a reputation of not paying bills. They started up again immediately under a slightly different name, so they must be getting credit from someone else to supply their parts.

I feel really annoyed as Valmo were really good people, and I knew their stock range, and could advise my customers accordingly. It looks like I'll be using ERF in future, as they are the closest wholesaler to me now.

Alan.

 

[PC Electrics]

I had a lot of emails off Valmo, but never used them as they were a bit too far for me.

I can understand the situation - a friend of mine owns 25% of a small wholesaler between Walsall and Cannock and he always says he'd rather have 1000 customers like me spending £500 a month than one large one. His firm nearly went bust for much the same thing, but it was 'only' £50k. They learnt their lesson and won't let it get that high now.

 

[Amp David]

It always make me wonder why they allow accounts to ever get that much in debt. Especially in todays world.

If they've started up again, hopefully the other wholesalers around your way won't touch them!

 

[Ryan_Moore]

The general logic is that we have to settle our bills with suppliers 3 months after a purchase is made, so you give punters 2 months to cover your costs. However a contractors in liverpool recently went bust, leavin us up the creek without a paddle!

 

[IQ Electrical]

It's tough out there Alan but seriously, how can a small Wholesaler allow one company with a poor history and reputation to run up an account of £100,000 ?

It's almost like the banks and the irresponsible lending that led to the mess that we're in now.

 

[Infamous]

I liked valmo, this is a real shame. But as others have said a small wholesaler cant allow companies that much credit, especially without proper back ground checks.

 

[Des 56]

When they go bankrupot they re-open on Monday with a new name and a clean slate
The wife, then the mother in law,then the familly friend.the name alone changes

Lets face it.they have always been around and always will be around,they drag other businesses down with them and leave despair,peoples sometimes years of hardwork, and worry in their wake
Sometimes its genuine,but often its planned

I worked for a small firm that had about 20 employees at one time,they had unbelievable amounts of equipment from the wholesalers in the last few weeks of trading
Very little of those goods found their way to the workplace,it was mainly hidden away in other premises

The firm bankrupted,changed name,re opened with the ex employees all within a few weeks
The equipment that was stolen under the previous name was now abundant in this new enterprise
I even think the remaining contracts they had were just re designated

The whole stink of these sort of practices must be difficult for government to stop, because it is not new, it has happened for many many years that I know of

 

[mayfair]

My brother in law screwed a few small firms when he went bust, took a good few of them with him. Now ten years on he's loaded got a villa in portugal, Jag etc. IMO i think the scum bag should be made to pay them all back before he starts buying all that stuff.

 

[Marc Atherton]

My brother in law screwed a few small firms when he went bust, took a good few of them with him. Now ten years on he's loaded got a villa in portugal, Jag etc. IMO i think the scum bag should be made to pay them all back before he starts buying all that stuff.

you should track the old firm's bosses down and give them his new address and watch karma take place

 

[Daveyb1429]

Well in my area of Lanarkshire Scotland all the wholesaler's go to a meeting similar to our Select/ Nic monthly and ask who owes them big buck's who aint paying, who is getting abnormal amounts of equipment/ material etc etc.

So they all talk to each other as it was described to me to stop this sort of thing happening to them all.

 

[IQ Electrical]

Well in my area of Lanarkshire Scotland all the wholesaler's go to a meeting similar to our Select/ Nic monthly and ask who owes them big buck's who aint paying, who is getting abnormal amounts of equipment/ material etc etc.

So they all talk to each other as it was described to me to stop this sort of thing happening to them all.

Now that's a good plan system!

 

[TPES]

I used to work for this firm your on about, but didnt hang about for too long...

The amount they were in debt for was ALOT more than you have heard.. Dont go rushing off to ERF, I gaurantee you'll be walking through that "Old Valmo" door very soon..

 

[alanl]

Sorry, could you expand a little?
You worked for Valmo or NSA?
If Dave and Co. can open up Valmo again, then that would be good news, as they are good guys.
Alan.

 

[DNS1]

Anyone else think the situation with businesses going bankrupt is a tad illogical...

If this doesn't make sense please humour me...

The electrical contractor mentioned in the first post shuts down. The government are always the top priority when it comes to recovering money, so they might recover unpaid taxes etc. In the meantime, the wholesaler goes under because there's no money left for them.

So now everyone who worked for the wholesaler is having to claim dole money, probably costing the government more than they recovered from the bankrupt business.

Make any sense to anyone?!

 

[DNS1]

Well its like the carry on with the contract for new rail carrages given to siemens isn`t it.

Do NOT get me started on that mate!

Even Siemens have said they don't understand why the contract wasn't given to the British company.

:banghead:

 

[baldelectrician]

Well in my area of Lanarkshire Scotland all the wholesaler's go to a meeting similar to our Select/ Nic monthly and ask who owes them big buck's who aint paying, who is getting abnormal amounts of equipment/ material etc etc.

So they all talk to each other as it was described to me to stop this sort of thing happening to them all.

I agree with Davy

All local wholesalers talk to each other here. You don't get an account based on your credit rating- you get an account based on your personal history and how you pay / get on with people

 

[DNS1]

All local wholesalers talk to each other here. You don't get an account based on your credit rating- you get an account based on your personal history and how you pay / get on with people

Makes perfect sense...

Of course they'll probably end up being sued eventually for breaching some ridiculous EU law on privacy or something

 

[AIM]

Just done a quick web search on NSA Electrical. All in public domain. Would you do business with a Company with these vital statistics?
NSA ELECTRICAL LIMITED, established 2000-09-25
NSA ELECTRICAL LIMITED was first registered at Companies House on 2000-09-25 as a "Private Limited with share capital" company, registration number 04077772. On the last annual return they registered as SIC classification code 74870, stating that the main activity of the company was "Unknown".

The company last filed accounts on 2010-07-02 of type "TotalExemptionSmall". [h=1]Cash at Bank[/h] From the most recent set of accounts filed by NSA ELECTRICAL LIMITED their cash at bank in 2009 was:

£26
[h=1]Net Worth[/h] From the most recent set of accounts filed by NSA ELECTRICAL LIMITED their net worth in 2009 was:

£26,235
[h=1]Total Current Liabilities[/h] From the most recent set of accounts filed by NSA ELECTRICAL LIMITED their total liabilities in 2009 were:

£604,170

 

[mogga]

The wifes friend got payed off ( Payed isnt right she got hey haw) when her nugat cheatin expletives of a bos experienced hard times and had to trim down ( she knew this was coming and expected the next bit) no redundancy she worked for 4 years under the company and 5 before that for same guy before he "Phonixed" she had to take him to tribuneral He didnt turn up no surprise0 then within a week he went burst on a friday Then on monday opened up as another company Only differance in names was the "XXXXX" bit became "XXXXXXXXXXXXX" and it was his boys company He still swans about in the beemer ect he and a couple of his "M8s" have done this twice that I know of personaly I feel like knockin his block off but know he would get me lifted ect

 

[Poweri]

The wifes friend got payed off ( Payed isnt right she got hey haw) when her nugat cheatin expletives of a bos experienced hard times and had to trim down ( she knew this was coming and expected the next bit) no redundancy she worked for 4 years under the company and 5 before that for same guy before he "Phonixed" she had to take him to tribuneral He didnt turn up no surprise0 then within a week he went burst on a friday Then on monday opened up as another company Only differance in names was the "XXXXX" bit became "XXXXXXXXXXXXX" and it was his boys company He still swans about in the beemer ect he and a couple of his "M8s" have done this twice that I know of personaly I feel like knockin his block off but know he would get me lifted ect

Did your wife's friend work for NSA? I worked there whilst someone was sacked for some made up reason one morning.