Folkstone Fixings (FFX) placed into Administration

[Blackswanwood]

I bought an expensive track saw from them about 2 weeks ago. Should I return it in light of this?

Not if you’ve received it and it is as described when you chose it. Do make sure that you register the guarantee direct with the manufacturer though.

 

[okeydokey]

I bought an expensive track saw from them about 2 weeks ago. Should I return it in light of this?

No the warranty is ultimately with the manufacturer imo
Make sure you register the purchase with them as they sometimes need that

 

[okeydokey]

Sorry Blackswanwood didn't see your reply when I sent mine

 

[Sachakins]

I see they finally closed the website this morning .

 

[HamsterJam]

Example purely for illustration: https://find-and-update.company-information.service.gov.uk/company/03326979/filing-history

Last accounts published Jan 24 show P&L loss of £2m, negative cash flow (ie out) of £2.3m net and BS shareholders total funds down from £8.3m to £5.3m positive, so could survive for a while but will need serious action to increase sales and cut costs. Next accounts would be due in Jan 2025. I would buy from them but for anything large would collect in person and as a creditor they would be on very tight terms and low limit if I were supplying them.

There is more to looking at public accounts than this, but it is worth doing to get a rough idea and takes a couple of minutes and is free.

Not forgetting £1.2m of the loss is attributed to restructuring including redundancies and exiting a building lease early, presumably to cut year on year operating cost.

 

[earnest]

Axminster PNL report also does not look healthy for 2023: https://find-and-update.company-information.service.gov.uk/company/03326979/filing-history, but the balance sheet looks OK for the time being, would be interesting to see how they faired in 2024

 

[martynbez]

I bought an expensive track saw from them about 2 weeks ago. Should I return it in light of this?

Dont think it would be possible to return it now. Unless there is a problem with it?

 

[RobNichols]

My goodness! I've dealt with these guys quite a few times in the past. They were always a pleasure to deal with. Is this the beginning of the "big trees" starting to fall in the forest? It remains to be seen who else will follow.

I'm the same. Always had good service from them.

 

[MrBear]

NR Burnett in Hull has gone into administration as well. Was a good place for for a good range of wood products with free local delivery. One of the few places you could go to get more than just your standard building material wood.

https://www.facebook.com/NRBurnettLtd/

Its with great sadness that N R Burnett Ltd has ceased trading as of 4/9/24