Minister meets Colchester MP over 'phoenix businesses'

Gazette: Minister meets Colchester MP over 'phoenix businesses' Minister meets Colchester MP over 'phoenix businesses'

A GOVERNMENT minister has met with Colchester’s MP over businesses which fail with large debts only to start up again.

Sir Bob Russell met consumer minister Jo Swinson after he raised the issue in Parliament earlier this month.

The MP wants to see legislation brought in to make the practice, which often leaves people with large sums of money outstanding, illegal.

Comments (11)

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12:57pm Thu 22 Nov 12

sandgronun64 says...

Quite right too!

It is about time that this immoral practice was made illegal. It could help to stop dishonest traders hiding behind the aegis of a legal technicality in the future.

There will always be loopholes of course, but surely one as gapingly large as this, deserves to be closed?
Quite right too! It is about time that this immoral practice was made illegal. It could help to stop dishonest traders hiding behind the aegis of a legal technicality in the future. There will always be loopholes of course, but surely one as gapingly large as this, deserves to be closed? sandgronun64

1:08pm Thu 22 Nov 12

RB, Lexden says...

What can we learn from MPs about financial probity?.To discuss this
matter further,contact Russell at :
the Hypocrisy and Sanctimony
Department,
David Laws Wing,
Liberal Democrat Headquarters,
Paddy Pantsdown House,
Colchester.
What can we learn from MPs about financial probity?.To discuss this matter further,contact Russell at : the Hypocrisy and Sanctimony Department, David Laws Wing, Liberal Democrat Headquarters, Paddy Pantsdown House, Colchester. RB, Lexden

1:44pm Thu 22 Nov 12

Say It As It Is OK? says...

sandgronun64 wrote:
Quite right too!

It is about time that this immoral practice was made illegal. It could help to stop dishonest traders hiding behind the aegis of a legal technicality in the future.

There will always be loopholes of course, but surely one as gapingly large as this, deserves to be closed?
Totally agree.

Companies like Number Nine Restaurant on North Hill, Colchester. It went into liquidation in July owing thousands of pounds to local suppliers but the restaurant immediately re- opened, by the same owner, under a different holding company and in doing so they are not liable for the debts from the old company. No effort has been made to their repay creditors!
[quote][p][bold]sandgronun64[/bold] wrote: Quite right too! It is about time that this immoral practice was made illegal. It could help to stop dishonest traders hiding behind the aegis of a legal technicality in the future. There will always be loopholes of course, but surely one as gapingly large as this, deserves to be closed?[/p][/quote]Totally agree. Companies like Number Nine Restaurant on North Hill, Colchester. It went into liquidation in July owing thousands of pounds to local suppliers but the restaurant immediately re- opened, by the same owner, under a different holding company and in doing so they are not liable for the debts from the old company. No effort has been made to their repay creditors! Say It As It Is OK?

6:59pm Thu 22 Nov 12

roger bacon says...

It is interesting that when a company like for instance Number Nine Restuarant in Colchester goes broke it then reopens as another company . Then where does it get new suppliers from. Having been in the catering business I would not touch these companies with a barge pole. So who would give these companies credit, and if they do, they deserve to lose their money then.
It is interesting that when a company like for instance Number Nine Restuarant in Colchester goes broke it then reopens as another company . Then where does it get new suppliers from. Having been in the catering business I would not touch these companies with a barge pole. So who would give these companies credit, and if they do, they deserve to lose their money then. roger bacon

7:25pm Thu 22 Nov 12

rowhedge-dave says...

Well done Sir Bob for investigating this matter.

A Phoenix company that you may wish to add to your list is Stanley Bragg Architects.

Over night they changed from Stanley Braggs to Stanley Bragg Architects.

And no one battered an eye lid!

Any doubt please refer to Companies House.
Well done Sir Bob for investigating this matter. A Phoenix company that you may wish to add to your list is Stanley Bragg Architects. Over night they changed from Stanley Braggs to Stanley Bragg Architects. And no one battered an eye lid! Any doubt please refer to Companies House. rowhedge-dave

8:12pm Thu 22 Nov 12

Checkout says...

Change the record please RB, Lexden.
Change the record please RB, Lexden. Checkout

8:02am Fri 23 Nov 12

GreensteadResident says...

Didn't the LibDems receive £2.4 million from a convicted fraudster and wouldn't give it back?

What do you have have to say about that Bob?

Also what about political parties stealing votes by promising things in their election manifestos such as tuition fees and then breaking those pledges after the election?

What do you have have to say about that Bob?

And what about your fellow LibDem MP the fragrant David Laws and his dodgy expenses?

What do you have have to say about that Bob?

Sorry Bob you're full of hot air and hypocrisy - time you stood down and took up gardening.
Didn't the LibDems receive £2.4 million from a convicted fraudster and wouldn't give it back? What do you have have to say about that Bob? Also what about political parties stealing votes by promising things in their election manifestos such as tuition fees and then breaking those pledges after the election? What do you have have to say about that Bob? And what about your fellow LibDem MP the fragrant David Laws and his dodgy expenses? What do you have have to say about that Bob? Sorry Bob you're full of hot air and hypocrisy - time you stood down and took up gardening. GreensteadResident

9:17am Fri 23 Nov 12

wellnow says...

what about the point he is arguing?surely you agree with him on that.
what about the point he is arguing?surely you agree with him on that. wellnow

10:35am Fri 23 Nov 12

GreensteadResident says...

To Wellnow - The LibDems and the rest of the political parties (all of them) should put their own house in order first.

Will Bob reply to the questions above.
To Wellnow - The LibDems and the rest of the political parties (all of them) should put their own house in order first. Will Bob reply to the questions above. GreensteadResident

10:35am Fri 23 Nov 12

GreensteadResident says...

To Wellnow - The LibDems and the rest of the political parties (all of them) should put their own house in order first.

Will Bob reply to the questions above.
To Wellnow - The LibDems and the rest of the political parties (all of them) should put their own house in order first. Will Bob reply to the questions above. GreensteadResident

11:17am Fri 23 Nov 12

romantic says...

roger bacon wrote:
It is interesting that when a company like for instance Number Nine Restuarant in Colchester goes broke it then reopens as another company . Then where does it get new suppliers from. Having been in the catering business I would not touch these companies with a barge pole. So who would give these companies credit, and if they do, they deserve to lose their money then.
Well, hopefully nobody local will touch them and give them credit, but they could go further afield. Companies might start supplying, happy to get what might seem a prestigious client, and only discover the reality later on.

The motto is: even if you´re happy to get orders, make sure you know who you´re dealing with, check credit records, ask for upfront payment for the first few orders.

We´ve had to deal with companies like this, and it is incredible that they can go out of business on Friday, then re-open under a new name on the Monday. We got stung for a couple of thousand, but others lost much more, and of course the promises of payments from "future profits" never came to pass.
[quote][p][bold]roger bacon[/bold] wrote: It is interesting that when a company like for instance Number Nine Restuarant in Colchester goes broke it then reopens as another company . Then where does it get new suppliers from. Having been in the catering business I would not touch these companies with a barge pole. So who would give these companies credit, and if they do, they deserve to lose their money then.[/p][/quote]Well, hopefully nobody local will touch them and give them credit, but they could go further afield. Companies might start supplying, happy to get what might seem a prestigious client, and only discover the reality later on. The motto is: even if you´re happy to get orders, make sure you know who you´re dealing with, check credit records, ask for upfront payment for the first few orders. We´ve had to deal with companies like this, and it is incredible that they can go out of business on Friday, then re-open under a new name on the Monday. We got stung for a couple of thousand, but others lost much more, and of course the promises of payments from "future profits" never came to pass. romantic

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