Lots of Rumours Wellgrain has gone bust?

[bobk]

Sadly my experience in other industries is that it doesn't work like that. Clever eagles like PwC just go to court with a paper trail and make you pay up . It might seem easy to contra but it will depend totally on when the lever was pulled and the dates on invoices etc

 

[glasshouse]

Probably find you'll still have to pay for the fert....
And still not get paid for the corn.

no fudging way

 

[Pasty]

Probably find you'll still have to pay for the fert....
And still not get paid for the corn.

I've been in that exact position with other goods. I owed them more than they owed me when they went under, I told the liquidator I wanted proof of delivery of goods as I didn't recall ever getting it and they went away and stopped hassling me for what I owed them. All I wanted was a fair settlement but they just went away. They are only after the easy meat, not interested in a fight. All they care about is their fee. Sad but true.

 

[Neddy flanders]

didn't the trader for wellgrain used to work for Agrimarche which went bang a few years ago?

 

[Flat 10]

I've been in that exact position with other goods. I owed them more than they owed me when they went under, I told the liquidator I wanted proof of delivery of goods as I didn't recall ever getting it and they went away and stopped hassling me for what I owed them. All I wanted was a fair settlement but they just went away. They are only after the easy meat, not interested in a fight. All they care about is their fee. Sad but true.

Off topic slightly but there are allegations that some accountants have had a vested interest in declaring a company bankrupt as they or their mates will be awarded the insolvency negotiations and make a lot of money If true not on.

 

[Andrew K]

What will the

The stuff they owe me for was sold forward in 2015 & collected Nov-Dec 16, haven't dealt with em recently due to payment issues others have had aswell! Anyway it seems they in bother with hmrc aswell as a £15m debtso there won't be much to divvy out - & watch out as they may have to honour those loads not collected yet- luckily I'm not one of these, but even so left with bugger all from 4 loads rape & 4 mill wheat- daylight robbery

Boss of Wellgrain reputedly drives a Ferrari, take that in lieu of grain ? I wish it was that easy.

 

[snarling bee]

There's too many companies go to the wall because the directors have been taking more out than the company could afford. Whereas most farmers/honest folk live within their means.

 

[matthew]

What will you do, Spashett, if PwC claim it for the benefit of the other creditors?

Make sure the grain is gone to someone who will pay?
Empty store. Problem solved.

What assets are they likely to hold?

Not your grain, I hope.

There is absolutely no way I would be loading one single grain onto a wagon for them .....

You can't if the store is empty, can you.

 

[JP1]

Make sure the grain is gone to someone who will pay?
Empty store. Problem solved.



Not your grain, I hope.



You can't if the store is empty, can you.

If you land up with a court judgement against that action, you'll feel even more sore handing over the cash than the grain probably - unless you want to face contempt. These days there's a paper or e-trail everywhere and the likes of PwC would find it easy peasy

 

[bobk]

If you land up with a court judgement against that action, you'll feel even more sore handing over the cash than the grain probably - unless you want to face contempt. These days there's a paper or e-trail everywhere and the likes of PwC would find it easy peasy

Is there not a paper trail for money owed ? or is that irrelevant ..

 

[Grain Buyer]

Well I had NO idea that there was anything iffy about them ....and now count myself very lucky I got my money .....seems now reading this thread it's been common knowledge. ..
So perhaps those in the know would like to tell me who else to avoid?

well there's one I'd avoid, but for legal reasons I'm not saying.

 

[marcot]

well there's one I'd avoid, but for legal reasons I'm not saying.

Does it begin with a G and end with an E?

 

[onthehoof]

well there's one I'd avoid, but for legal reasons I'm not saying.

Are you from Barcelona by any chance?

 

[Grain Buyer]

Does it begin with a G and end with an E?

certainly not, I'd say they are one of the best ones.

 

[glasshouse]

If you land up with a court judgement against that action, you'll feel even more sore handing over the cash than the grain probably - unless you want to face contempt. These days there's a paper or e-trail everywhere and the likes of PwC would find it easy peasy

Goods remain property of owner till they are paid for. No prospect of payment = no prospect of loading.

 

[glasshouse]

Off topic slightly but there are allegations that some accountants have had a vested interest in declaring a company bankrupt as they or their mates will be awarded the insolvency negotiations and make a lot of money If true not on.

Some accountants may have a "friend" ready to take over for a song.

 

[Farmerdunk]

a nearby farmer told me today that he knows of 3 farmers they owe £200k between them!

 

[Condi]

certainly not, I'd say they are one of the best ones.

There are 2 which start with G and end with E.

But I dont think there are any others who look anywhere near as precarious as Wellgrain always looked.

Most merchants will have some form of credit insurance anyway.

 

[Spashett]

What will you do, Spashett, if PwC claim it for the benefit of the other creditors?

Not allowed to happen unless PwC agree to pay contracted price

 

[Honest john]

This firm have been sailing close for as long as I can remember.

Big fall out with PX farms about 3 yr's ago.

Then started running their own lorries.

Can't get credit insurance on them.

No Property assets.

Just stuff on Lease.

Word is they have been trying to sell a buiness over the Channel.

Very sad unless you are PWC.