.....what happens to all the stock?
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When a shop goes into liquidation.....
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Posted 3 years ago #
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They were selling Woolies sweets in Home Bargains a while back.
Posted 3 years ago # -
If an outstanding debt to the supplier, they generally take it back and sell it on (or appoint someone else to do so for them) to cover some of the debt. Then dependent upon what is still outstanding, they file the court papers to try and recover what else they can.
If, there is no outstnading debt to the supplier, then the shop owners will do what they can to raise revenue from that product to clear the other debts they invariably owe.
Posted 3 years ago # -
Thanks, probably back to supplier then.
Posted 3 years ago # -
back to supplier if Official Receiver agrees they can be clearly traced to an unpaid invoice thru' batch numbers etc - so a lot of stock on display will go to auction - Receiver is supposed to cooperate give access etc but in reality it means people hours photographing boxe/pack labels CEN codes or whatever
Posted 3 years ago #
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