Folkstone Fixings (FFX) placed into Administration

[Sideways]

I've just joined this forum & trying to find out, as a supplier to FFX, if I have to write off over £4k of stock supplied to them or if I can get back that which they haven't sold yet!!

Be proactive. Everyone else will be.
Review your contract terms as @AJB Temple says. This is important.
Contact the administrators as @Noel says. State what you are owed and assert your rights over your property if title is still yours.
The administrators are required to follow the hierarchy of claims over the assets of the business. They'll be scambling to get control of it, lock it down and understand the mess that they have on their hands. Staff have to be laid off with urgency, so there isn't a functioning business there any more just the administrators, some key staff kept on for now and a bunch of people possibly working out their notice but totally distracted by the need to find other jobs.

 

[Newbie_Neil]

I've just joined this forum & trying to find out, as a supplier to FFX, if I have to write off over £4k of stock supplied to them or if I can get back that which they haven't sold yet!! As a small manufacturer this is a massive hit to our turnover & cash flow. I will survive but it's going to be more tough years ahead

Hi, I'm sorry to hear your news. If you don't have a 'retention of title' clause on your invoices then you will, probably, get very little from the administration.
You need something like this on your invoices, 'Notwithstanding the other provisions in these Sales Conditions, XXXXX shall retain ownership and title to the Products delivered to the Purchaser by XXXXX until the Purchaser has made full and final payment of all amounts (including interest, costs and penalties) that it owes to XXXXX under all Agreements entered into ...'.
The above should do the job, but I would get a solicitor to confirm the wording that you need.

 

[mg123]

There are other threads on this forum highlighting how we are being ripped off by suppliers.
Sorry but we can't have it both ways. You pays your money and takes your choice.

It's the convenience, you pop to your local hardware store but they don't stock what you need. You ask for an order, and it's either met with "ooooooh it'll cost you", or "it could take a few weeks". There was a small local place to me, 10 minutes walk, who I would visit first for all my hardware and timber needs. They were small so you couldn't get everything, but they had good service and a decent range. But once they went bust, it had to be amazon for a lot of my needs. I'll generally use Screwfix, Toolstation or Wickes now. Big players here, but the options are limited.

 

[Amplidyne]

It's the convenience, you pop to your local hardware store but they don't stock what you need. You ask for an order, and it's either met with "ooooooh it'll cost you", or "it could take a few weeks". There was a small local place to me, 10 minutes walk, who I would visit first for all my hardware and timber needs. They were small so you couldn't get everything, but they had good service and a decent range. But once they went bust, it had to be amazon for a lot of my needs. I'll generally use Screwfix, Toolstation or Wickes now. Big players here, but the options are limited.

50 years ago, as a young chap, I lived in a medium sized Midlands town.
If you wanted anything more specialist than a Phillips screwdriver, at most places you would be greeted, as you say, with a sharp intake of breath, followed by "About a month's delivery" and usually a huge price. We used to go into Brum to get stuff, adn even then the choice was limited.
Now you can go on one of the many internet sites, and basically get pretty well anything delivered "next day"
Sorry and all that, but I'm going to the internet. . .

 

[Phil Pascoe]

We used to buy locally. One place shut for lunch 12pm - 1pm, two 12.30pm - 1.30pm, one 1pm - 2pm. By the time you found what you were looking for (if you were very lucky) you'd have wasted half your working day, although often you wouldn't have - you'd get the standard response, we can get it for you (at an exorbitant price) a week thursday. Along came Screwfix. Very limited forty + years ago but expanding by the month.