nautibusiness12
Member
I have been told that Dickies have gone bust owing people money and reopened in a new company to avoid paying. Has anyone else heard anything?
Dickies gone bust
- Thread starter nautibusiness12
- Start date
DTIM
Well-Known Member
Not sure of any details but it appears 'A M Dickie & Sons Ltd' had and administration order issued on 7/8/13. 'Dickies International Boat Sales Ltd' incorporated 3/7/13. Website is still running albeit under the newer company name.
Talulah
Well-Known Member
aquapower
Well-Known Member
I was told a couple of weeks ago they were closing 2 offices, think it was Brighton and one other, but were keeping all others open.
Matt341
Well-Known Member
Dickies Swansea office seems to have closed and all stock boats have gone from the yard.
Notice in the window with a press release stating that a.m. Dickies and Son Ltd have closed their Brighton, Plymouth, Swansea and Pwllhelli offices with Swanwick and Bangor remaining open.
Notice in the window with a press release stating that a.m. Dickies and Son Ltd have closed their Brighton, Plymouth, Swansea and Pwllhelli offices with Swanwick and Bangor remaining open.
nautibusiness12
Member
Looks like they have reopened in a new name. I did not think this was that kind of industry! I wonder if anyone lost deposits or anything. Will they have the nerve to go to the boat show!!
TimBennet
Well-Known Member
The British Marine Industry is a world leader in being that kind of business.
People shouldn't have lost deposits.
They will go to the boat show because by then, someone else will have the spotlight on them for doing exactly the same.
nautibusiness12
Member
Does it really happen that much? I am shocked that a big company like Dickies would do it.
aquapower
Well-Known Member
I think its fair to say this happens in all kinds of business and not just the marine industry.
nautibusiness12
Member
I honestly thought due to the value of the items being sold and the trust involved this would be unusual. Especially as they are a Beneteau dealer.
DougH
Well-Known Member
Find it very hard that this has any bearing on the case
Bertramdriver
Well-Known Member
Probably a pre pack deal agreed with the administrator for the surviving company to buy the assets of the insolvent company for a song. Most of the stock boats would have been on loan from the manufacturers and returned to them, so the value of the other trading assets would have been worth little. Shop stock was probably supplied under a ramalpa clause so the suppliers could reclaim the stock. Anybody who handed over a deposit for a boat should have made sure the money went into an escrow account so the owners could not access it without the buyers approval.
Are these arrangements unusual. No they're run of the mill. Who takes the hit? Revenue and Customs, the Landlords, rates, Utilities and unfortunately the redundant staff and shareholders. It happens day in day out.
Are these arrangements unusual. No they're run of the mill. Who takes the hit? Revenue and Customs, the Landlords, rates, Utilities and unfortunately the redundant staff and shareholders. It happens day in day out.
nautibusiness12
Member
No reflection on Beneteau I was referring to the fact that they are not some tin pot yacht brokerage but a large organisation
nautibusiness12
Member
And small businesses like me!!
MedDreamer
Well-Known Member
I'm afraid thats business! It happens in all aspects of business. The new companies are known as "Phoenix companies".
Whitelighter
Well-Known Member
You're having a laugh surely.
Most of the marine industry is exactly that type if business.
P4Paul
Well-Known Member
Not in this day and age, most manufacturers expect dealers to be full stocking dealers and order (and pay) for any stock/demo boats. Dealers tend to use a stocking floor plan from a finance house to provide the funds and when these kind of things happen, the finance house are fairly happy to allow the Phoenix company to continue to show the boats as before. This avoids the cost of moving and storing them elsewhere while the finance house try to sell them on the open market, made even harder by the fact the finance house isn't a dealer and therefore the boats would be sold without warranty.
Neil_Y
Well-Known Member
That's bad news, as I think they might owe me something
rubberduck
Well-Known Member
I had this happened to me in my business recently, but we have insurance to cover it. I will not be upgrading the boat any time soon however, as i cannot get the same cover & see little comfort knowing that even the best in the marine industry are struggling one way or another. Besides which I think my boat would take a lot of money to beat, but thats not really the point.
diligaf
Well-Known Member
I heard about this a few days ago. Pre-packs are dishonest and immoral IMO. Southerly did the same. I would imagine both them and Dickies will appear at the show and pretend it never happened hoping to snare someone who hasn't heard about it.
I heard Dickies staff we told there was no redundancy money and to apply to the government scheme. Bet the directors were ok though!!
Presumably this will make clients of Dickies consider their options?
I heard Dickies staff we told there was no redundancy money and to apply to the government scheme. Bet the directors were ok though!!
Presumably this will make clients of Dickies consider their options?
