Create & Craft not taking payments

[Jason]

That does not look good. Will they still go live tomorrow? I wonder who (if any) will buy the company?

TJC with Natalia playing with shiny sparkly things.

 

[Craftalot]

Not looking good this morning: showing repeats still and all the products have been removed from the website. It would surprise me if the insolvency/intention to appoint administrators is announced today.

 

[Jazzydrury]

I always thought Shops stayed open when the Adminstrators come in.

 

[Craftalot]

I always thought Shops stayed open when the Adminstrators come in.

It depends on the state of the company as the administrators find it: sometimes they will try to trade out the remaining inventory if they think that will mean a better result for creditors, but other times, for instance, when all the stock is ROT (retention of title) or there are other issues the company sometimes has to cease trading immediately.

 

[Jazzydrury]

It depends on the state of the company as the administrators find it: sometimes they will try to trade out the remaining inventory if they think that will mean a better result for creditors, but other times, for instance, when all the stock is ROT (retention of title) or there are other issues the company sometimes has to cease trading immediately.

I was thinking of like when Woolies went under, but obviously, they had stock on the shelves which needed selling, where as something like Create and Craft, Don’t carry stock I guess

 

[Sorbus]

Yes according to Sky EPG it seems they return at 7am on Friday

Ah well it is now Friday 3.00pm and.....?

 

[Worldie04]

I was thinking of like when Woolies went under, but obviously, they had stock on the shelves which needed selling, where as something like Create and Craft, Don’t carry stock I guess

Much of their stock is sale or return, or Direct Dispatch, so it's not often actually owned by the company. They probably don't have a lot of that to sell if they were to remain trading.

 

[Jazzydrury]

Ah well it is now Friday 3.00pm and.....?

I guess they’ve decided to delay or pull

 

[Dr Quincy MkII]

Much of their stock is sale or return, or Direct Dispatch, so it's not often actually owned by the company. They probably don't have a lot of that to sell if they were to remain trading.

They posted this on Facebook:

'Thank you to our customers for their continued patience, we are sorry we aren't ready to broadcast live just yet. We will continue sharing our favorite moments on our channels and our streaming app over the weekend and we will update you as soon as we can.'