Nuneaton-based Soak.com collapses and goes into administration

[dutchman]

Luxury for Less Ltd has been put into the hands of administrators



A Nuneaton-based firm has collapsed and been placed in administration.

Luxury For Less Ltd trading as Soak.com, which was based in Townsend Drive, ceased trading on February 21 and was subsequently placed into Administration on March 19.

As a result, Warwickshire County Council Trading Standards is issuing some important information to customers of the firm.

Andrew Poxon and Sean Williams of Leonard Curtis Business Rescue and Recovery have been appointed as Joint Administrators.

"The Administrators anticipate there will be funds available to distribute to unsecured creditors (for example customers), however, they cannot advise of the level or timing of this distribution to creditors," trading standards said.

"Customers who paid for goods that were subsequently not delivered and have been unable to make a claim for a refund from their card providers are advised to submit a claim to the Administrators as an unsecured creditor. Customers will be required to complete a proof of debt form (obtainable from the Administrators)."

The news came just over three months after the firm said that up to 15 jobs could go.

The company was previously known as Bath Empire before rebranding to soak.com in April 2016.

[rebbonk]

The Administrators anticipate there will be funds available to distribute to unsecured creditors (for example customers), however, they cannot advise of the level or timing...

It's time that the law was changed and customer monies were held in a separate account until fulfilled.