Studiospares gone into administration.

[fretmeister]

https://m.thegazette.co.uk/notice/4701115
 

Damn it.

[Beedster]

That's a great shame, hope no-one here is affected  

[JapanAxe]

Hot dang!

[Downunderwonder]

Is it fait accompli when such a meeting of creditors has been called, that a company is liquidated? Or do they have what we call "Receivership" whereby the creditors have to wait for administrators to determine if a more satisfactory outcome can be achieved?

 

A company can continue to trade "In Receivership" and potentially be released from administrative control to continue trading normally after getting solvent.

 

While the Receivers run things they don't have to clear outstanding debts by selling assets.

[TimR]

They used to be my goto place to get anything. I honestly thought they'd stopped trading a long time ago, they certainly never came up near the top in any searches. Gear4music and Amazon seem to have cornered the Web market.

 

They used to send out a hard printed catalogue every year.

 

Seems they moved to Luton which would explain why their shop on the North Circular had disappeared. 

[tauzero]

10 hours ago, Downunderwonder said:

Is it fait accompli when such a meeting of creditors has been called, that a company is liquidated? Or do they have what we call "Receivership" whereby the creditors have to wait for administrators to determine if a more satisfactory outcome can be achieved?

 

A company can continue to trade "In Receivership" and potentially be released from administrative control to continue trading normally after getting solvent.

 

While the Receivers run things they don't have to clear outstanding debts by selling assets.

 

It's a winding up resolution which would mean the company assets being liquidated.

[Dan Dare]

On 24/09/2024 at 06:33, TimR said:

They used to be my goto place to get anything. I honestly thought they'd stopped trading a long time ago, they certainly never came up near the top in any searches. Gear4music and Amazon seem to have cornered the Web market.

 

They used to send out a hard printed catalogue every year.

 

Seems they moved to Luton which would explain why their shop on the North Circular had disappeared. 

 

Their original shop was in the back streets of Camden Town. Like you, I bought a lot of stuff from them. When they moved to the North Circular, they were still within easy reach for me, luckily. Since they went online only, I haven't used them. 

[meterman]

Damn, I spent a lot of money with them over the years. I hope nobody on here was part of their current team.