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Begbies Traynor appointed Administrators for FR Retail Limited t/as Fashion Rocks: Update 20 December 2011

Begbies Traynor appointed Administrators for FR Retail Limited t/as Fashion Rocks: Update 20 December 2011

Begbies Traynor appointed Administrators for FR Retail Limited t/as Fashion Rocks: Update 20 December 2011

FR Retail Limited (In Administration) (“the Company”)

19 December 2011

FR RETAIL LIMITED T/A FASHION ROCKS

David Acland, Paul Dounis and Lila Thomas of Begbies Traynor were appointed Joint Administrators (“the administrators”) of FR Retail Limited trading as “Fashion Rocks” on 19 December 2011. The Administrators are all licensed by the Insolvency Practitioners’ Association.

The affairs, business and property of the Company are being managed by the Administrators, who act as agents of the Company and without personal liability. The role of the Administrators is to deal with the business and assets of the Company and they are not accountable for the management of the business prior to the date of their appointment.

TRADING

The objective of administration is to facilitate the rescue of the company as a going concern however, if that is not reasonably practicable in all the circumstances, to implement the next best alternative in the interests of the Company’s creditors as a whole.

The Administrators are maintaining the trading operations from the stores at Meadowhall Shopping Centre, Sheffield and Westfield Stratford City, London.

Please note as Administrators we are not in a position to pay amounts due by the Company in respect of any contractual obligations entered into prior to our appointment.

During the ongoing trading period, all goods will be sold as seen and returns will not be accepted. See below for the policy regarding exchanges. Your statutory rights remain unaffected.

ONLINE CUSTOMERS OF FR ETAIL LIMITED

David Acland, Paul Dounis and Lila Thomas of Begbies Traynor were appointed Joint Administrators (“the administrators”) of FR Etail Limited trading as “Fashion Rocks” on 19 December 2011. The Administrators are all licensed by the Insolvency Practitioners’ Association.

The affairs, business and property of the Company are being managed by the Administrators, who act as agents of the Company and without personal liability. The role of the Administrators is to deal with the business and assets of the Company and they are not accountable for the management of the business prior to the date of their appointment.

ADVICE FOR CUSTOMERS WHO HAVE PAID AND HAVE NOT RECEIVED THEIR GOODS

Credit Card and VISA Debit Card Payments

Customers may contact their card issuer who may be able to initiate a charge-back for the outstanding order. This claims process does not involve the Administrators and they are unable to influence or assist with any such claims.

If you are unable to claim a charge back, your claim will rank as an unsecured claim. A statement of claim form can be downloaded from the link below.

Non VISA Debit Card Payments

These claims will be classed as unsecured claims against the Company.

ADVICE FOR CUSTOMERS WHO WISH TO MAKE RETURNS

Please note that all goods purchased from Monday 19th December 2011 will be ‘sold as is’ and returns can only be accepted on the grounds the goods are faulty.

All goods purchased prior to Monday 19th December 2011 can be exchanged for goods to the same value or less when accompanied by proof of purchase. All refunds require the authorisation of the Store Manager or Acting Store Manager.

Unfortunately cash or card refunds cannot be provided. If you do not wish to exchange goods then you may have an unsecured claim in the Administration. Please click on the links to the statement of claim forms below.

Statement of Claim Form FR Retail Limited

Statement of Claim Form FR Etail Limited

Your statutory rights will not be affected.

INFORMATION FOR SUPPLIERS

Goods or services supplied to the Company subsequent to the Administrators’ appointment must only be made against orders which have been authorised in writing by the Administrators and their staff. The Administrators are not adopting any contracts entered into by the Company prior to their appointment.

Existing accounts with the Company should be closed with effect from the Administrators appointment (19 December 2011) and your final account submitted to the Administrators. No payment can be made for monies outstanding prior to the Administrators appointment.

RETENTION OF TITLE (“ROT”)

Any creditor who believes they are entitled to make an ROT claim should forward details of the claim to frretail@begbies-traynor.com under the heading ROT.

Suppliers will not be permitted to enter the Company’s premises without first having made an appointment with the Administrators’ representatives.

ADDITIONAL INFORMATION

Letters are being issued to the known Company creditors and further updates will be provided in due course.

Paul Stanley

About the author

Paul Stanley

Regional Managing Partner

Meet our Team of Experts

Paul qualified as a chartered accountant in 1987 with Arthur Andersen an international accounting practice. He worked on audits, management consultancy and buy out due diligence before specialising in insolvency and investigations. In 1990 he was granted an insolvency licence by ICAEW.

He worked on the Robert Maxwell private company administrations in the Middle East in the early nineties and developed strong banking relationships. In 1993 he joined up again with ex-Andersen's colleague Ric Traynor as Ric's first partner in the firm which later changed its name to Begbies Traynor. Paul acts as managing partner in the Manchester office and sits on both the firm's management and technical committees. He has a reputation as a straight-talking, honest advisor who is both technically strong and commercial.

Advice You Can Trust

Insolvency Practitioners Association Institute of Chartered Accountants in England and Wales R3: Association of Business Recovery Professionals ICAEW Business Advice Service Turnaround Management Association ACCA (the Association of Chartered Certified Accountants) ICAS | The Institute of Chartered Accountants of Scotland
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