Create & Craft not taking payments

[Flying Pigs]

Tell us more please…

 

[Dr Quincy MkII]

i WAS THERE TILL THE END

And will it rise like a phoenix from the ashes (again) ??

 

[Battiola73]

And will it rise like a phoenix from the ashes (again) ??

I hope so. The alternative on the TV poor presentation

 

[Jazzydrury]

I’ve come across a YouTuber, who was a floor manager at Create and Craft, He has found another job working at a Cafe at a Garden Centre, in a posh setting.

He goes through his Redundancy Story.

His channel is Ben and my cat, seems down to earth.

 

[Floormanger135]

And will it rise like a phoenix from the ashes (again) ??

absolutely not

 

[Craftalot]

Create and Craft's administrators report was published today. As expected, it's a disaster. Highlights for those who might be interested in such things.
Preferential creditors (employees mainly) will be getting about 25p in the £. The secured creditor, essentially Paul Wright and Val Kaye & is getting £86,000 and takes a loss of £22million.
Out of the unsecured creditors, the usual big losers are logistics and broacast support (eg Arquiva). Regarding craft companies/suppliers, which is what I think most people would be interested in, there's some big losers.

The biggest one I could see was StudioLight, which loses £176k. Me-Too crafts (John Lockwood) loses a massive £149k and Stephanie Weighman will be pissed off at losing £129k at Highlight Crafts. The other big losses are:

Clarity: (ex-director Barbara Gray) £94k
Tonic Studios: £86k (no more holidays for Jodie)
La Blanche: £88k
Craft Buddy: £70k
Stamperia: £54k
Claina Palmer: £30k
Pinflair: £29k
Craft Yourself Silly: £14k
Dawn Bibby: £11k
Sarah Payne + company, and Stamps By Me: £7k

None of these companies can afford to lose that sort of money - and there's plenty of other smaller suppliers who lose less money, but still money which they can ill afford. Tonic is probably in the worst position there, given that they've lost a huge amount of stock in a warehouse flooding during the recent storms.

Terrible outcome.

 

[Jazzydrury]

Why wasn’t it shut down earlier

 

[Worldie04]

Create and Craft's administrators report was published today. As expected, it's a disaster. Highlights for those who might be interested in such things.
Preferential creditors (employees mainly) will be getting about 25p in the £. The secured creditor, essentially Paul Wright and Val Kaye & is getting £86,000 and takes a loss of £22million.
Out of the unsecured creditors, the usual big losers are logistics and broacast support (eg Arquiva). Regarding craft companies/suppliers, which is what I think most people would be interested in, there's some big losers.

The biggest one I could see was StudioLight, which loses £176k. Me-Too crafts (John Lockwood) loses a massive £149k and Stephanie Weighman will be pissed off at losing £129k at Highlight Crafts. The other big losses are:

Clarity: (ex-director Barbara Gray) £94k
Tonic Studios: £86k (no more holidays for Jodie)
La Blanche: £88k
Craft Buddy: £70k
Stamperia: £54k
Claina Palmer: £30k
Pinflair: £29k
Craft Yourself Silly: £14k
Dawn Bibby: £11k
Sarah Payne + company, and Stamps By Me: £7k

None of these companies can afford to lose that sort of money - and there's plenty of other smaller suppliers who lose less money, but still money which they can ill afford. Tonic is probably in the worst position there, given that they've lost a huge amount of stock in a warehouse flooding during the recent storms.

Terrible outcome.

What An absolute mess; Paul and Val can well afford the loss although it will hurt. I heard there was a bit of a palaver with staff getting their last pay checks because the payroll staff forgot to cancel the last wages run, so it appeared to HMRC that the staff received their final months pay when they in fact did not. Apparently the CEO came across very well in that meeting!

For a lot of the suppliers it was their key source of income so even that 10K will sting a lot of them badly.