# Zymol Europe in Liquidation?!



## amiller (Jan 1, 2009)

http://www.london-gazette.co.uk/issues/60050/notices/1523397

Anyone else heard this? :doublesho

Perhaps just a voluntary administration process for restructuring?

Shocked.


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## nortonski (Jul 10, 2007)

amiller said:


> http://www.london-gazette.co.uk/issues/60050/notices/1523397
> 
> Anyone else heard this? :doublesho
> 
> ...


Quite shocked myself...oh well...


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## Bratwurst (Jan 23, 2009)

That'll be the end of the 'free' top-ups then...


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## Grizzle (Jul 12, 2006)

didnt know Craig Whyte owned them too lmao.


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## gally (May 25, 2008)

Oh dear! I'd like to hear the ins and outs of that tbh. No one really knows the structure at places like SV and Zymol because they are in Europe.

Any chance of them giving away some half price stock! :lol:


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## nortonski (Jul 10, 2007)

wee_green_mini said:


> That'll be the end of the 'free' top-ups then...


Nah, refilled in the US, hence the £300 plus insured shipping costs


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## Sirmally2 (Feb 28, 2011)

Bugger


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## Bratwurst (Jan 23, 2009)

Grizzle said:


> didnt know Craig Whyte owned them too lmao.


:lol: Belter Griz :thumb:


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## MidlandsCarCare (Feb 18, 2006)

What about all of the Zymol Approved Detailers... ouch


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## DetailedClean (Jan 31, 2012)

Damn... shocked by this!


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## Alzak (Aug 31, 2010)

not surprised by this since You can get most of the stuff much cheaper from US ...


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## Roy (Jan 17, 2007)

Shame really I quite liked them. I had some nice discussions with them back in December lol.


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## Leemack (Mar 6, 2009)

Oh dear


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## gally (May 25, 2008)

When was the last time you seen a professional use Zymol? 

They ruined it for themselves imo, weren't they telling people who weren't authorised detailers that they couldn't say they used Zymol on customers cars?


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## Ronnie (Nov 15, 2006)

that is a real shame.. Great products and had been chatting to them a while back re some business really helpful and courteous people. Have to say we used to use a lot of Vintage but not so much recently but still do use it all be it teh last 1/4 of the pot that we can use so it will be used sparingly from now on..

Its really heart wrenching to hear a large and well established company go out of business esp when you are a small business like mine. Really hope they all get sorted out.


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## Ninja59 (Feb 17, 2009)

hmm i think it could be restructuring tbh....


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## Miglior (Feb 12, 2006)

I wouldn't think this would change much to be honest. It's probably a tactical move by the owners to wipe off some debt. Zymol Europe has had a negative net worth since day dot I think. 

The directors of zymol Europe ltd operate a zymol uk ltd which will probably start trading now. It's possible the Europe one gets liquidated and the uk one starts to trade with very little affect to the way things are done.


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## Tazz (Aug 23, 2010)

far too many brands to choose, somebody has got to fall at some point, surprised its zymol though


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## Miglior (Feb 12, 2006)

I don't think it will be a case of a brand failing in the uk. Having said that zymol haven't seemed to develop anything new or try and compete in the last 5 years. A lot of resting on laurels Going on


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## Bez (Mar 17, 2009)

Hopefully Parc Ferme is still OK and it's just the retail side of things.
As above, nice people.


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## Tricky Red (Mar 3, 2007)

Miglior said:


> I wouldn't think this would change much to be honest. It's probably a tactical move by the owners to wipe off some debt. Zymol Europe has had a negative net worth since day dot I think.
> 
> The directors of zymol Europe ltd operate a zymol uk ltd which will probably start trading now. It's possible the Europe one gets liquidated and the uk one starts to trade with very little affect to the way things are done.


Zymol UK Ltd and Zymol Europe Ltd were incorporated one the same date in 2006, but UK was Dormant.


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## Miglior (Feb 12, 2006)

Which will probably not be dormant for very long.


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## President Swirl (Oct 23, 2011)

Who would have thought that there isn't a big enough market for waxes costing thousands of pounds.


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## PaulN (Jan 17, 2008)

Forget the waxes I hope the uk guys and gals staff are ok and how ever it goes they have a secure job in the organisation.

I have to say though this US v UK price difference is a real turn off from the brand.

Cheers

PaulN


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## The Cueball (Feb 8, 2007)

maybe something to do with the director loans that they keep taking out...

:lol:

:thumb:


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## Miglior (Feb 12, 2006)

The Cueball said:


> maybe something to do with the director loans that they keep taking out...
> 
> :lol:
> 
> :thumb:


:thumb:


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## PWOOD (Apr 30, 2007)

Competition has increased massively in what is a small market really. I remember when I joined the forum I was unable to fathom why Zymol was a word that could not be used in general forum speech still dont see the logic in that whole saga. Still its not good seeing a brand in trouble in Europe though.


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## Grizzle (Jul 12, 2006)

Love all the speculators on here... fantastic.


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## Ross (Apr 25, 2007)

Liquidation stock sale anybody?


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## dominic84 (Jan 27, 2007)

hmmm shame to see a business fail but *they* did have a bad attitude at times - no one likes a company that appears up it's own ar$e


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## Prism Detailing (Jun 8, 2006)

dominic84 said:


> hmmm shame to see a business fail but *they* did have a bad attitude at times - no one likes a company that appears up it's own ar


There are many companies within the detailing industry like that unfortunately.....


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## Rob_Quads (Jul 17, 2006)

Probably another example of why we are in such a mess in this country.

Way too easy to just call it quits, cancel all the depts and then start trading again under a slightly different name.


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## The Cueball (Feb 8, 2007)

Grizzle said:


> Love all the speculators on here... fantastic.


says the biggest sweety wife on DW... :lol:



:thumb:


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## Ti22 (Mar 24, 2009)

Hmmm can you spell phoenix?

NB this is not Zymol per se, just the euro distributor.. won't change a thing.


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## wylie coyote (Jul 15, 2007)

Rob_Quads said:


> Probably another example of why we are in such a mess in this country.
> 
> Way too easy to just call it quits, cancel all the depts and then start trading again under a slightly different name.


Very true Rob then we get the headlines about how many jobs were saved in that particular business. Ok, that's good, but what about all the suppliers? They are businesses too and probably end up having to lay people off because they won't get paid.


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## markcoznottz (Nov 13, 2005)

The money they were charging for approved detailers was ludicrous even in the good times. I'd still say they had a bad attitude in general, and something iv noticed with lots of British businesses, they make you feel like they are doing YOU a favour by letting you trade with them and buy thier over priced stock!.


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## RaceGlazer (Jan 10, 2007)

You are all so far off the mark, well almost all of you, I might have stood back to let the speculation continue but something needs saying.

We are Licenced Zymol Resellers, and I am posting in my personal capacity as such, not on behalf of Zymol Europe. What I say has not been authorised as an official statement by the UK or US operation.

This is totally irrelevant to the ongoing supply and availability of Zymol products in Europe, including the UK. We and other resellers will continue to supply under exactly the same basis as before, the UK Importer remains the same staff (Craig and Lynn, aka Parc Ferme), its just a tidying up exercise and a new company with a different name is already up and running. It is not the dormant one referred to above. The US company had no stake in the UK company and is in good health, so no issue with Vintage/Royale refills.

I have a substantial order in the system and am expecting fresh stock in the next 2-3 weeks.

Hopefully that will stop any further speculation. Its simply buisness as normal through a different company doing exactly the same things.


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## The Cueball (Feb 8, 2007)

I guess the question has to be asked then why they just didn't close the business down, I mean if they managed to turn around their negative net worth, paid back the director loans and paid off all their creditors, then that would be the best way... no need for a liquidation...

however, the description above, about business as normal, same people, just a different name does sound very much like a Phoenix company... by it's very nature, that is what it does...and in most cases, someone has to lose out on money they are owed... 



> In the UK, many companies in debt decide it's more beneficial to start again by creating a new company, often referred to as a 'phoenix' company. In business terms this will mean liquidating a company as the only option and then resuming under a different name with the same customers, clients and suppliers. In some circumstances it can be ideal for the company. It can be a way to start trading profitably having left unfavourable lease agreements and historic debt behind


:thumb:


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## Tricky Red (Mar 3, 2007)

You don't officially liquidate a company to tidy things up...You might liquidate the balance sheet internally, if not insolvent, but the appointment of a Liquidator is not standard to tidy the edges. Has this new company bought out the assets from the old company 'on the cheap'?


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## amiller (Jan 1, 2009)

Tricky Red said:


> You don't officially liquidate a company to tidy things up...You might liquidate the balance sheet internally, if not insolvent, but the appointment of a Liquidator is not standard to tidy the edges. Has this new company bought out the assets from the old company 'on the cheap'?


All questions for the tax man. :thumb:

As eluded to in the very first post, I thought it might be just a restructuring exercise. Happens all the time in large groups.


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## Rob_Quads (Jul 17, 2006)

RaceGlazer said:


> its just a tidying up exercise a


Otherwise known as writing off a load of dept, no other reason to bring in liquidators


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## Immortal Tekniq (Mar 11, 2009)

So basically i ordered quite a bit off their website zymol.co.uk last week. Received no confirmation e-mail, money has been taken from my account, phone calls not answered.
If they have gone bust surely this is fraud that their website is still taking payments.
Any idea if i will get my stuff or should i contact my bank asap?


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## Shhh3 (May 16, 2007)

^^^^
Read this post :thumb:



RaceGlazer said:


> You are all so far off the mark, well almost all of you, I might have stood back to let the speculation continue but something needs saying.
> 
> We are Licenced Zymol Resellers, and I am posting in my personal capacity as such, not on behalf of Zymol Europe. What I say has not been authorised as an official statement by the UK or US operation.
> 
> ...


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## millns84 (Jul 5, 2009)

Knew they should have been selling Vintage for £30...


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## RaceGlazer (Jan 10, 2007)

You will get your order.

The website is owned by the European Importer, i.e. the new company Voiture Ltd run by Craig & Lynn, your money will simply have gone the new company.

If in any doubt buy from us ! Note also that Zymol do not come on DW so they are fully aware that I am now posting on this thread.


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## PaulN (Jan 17, 2008)

The Cueball said:


> I guess the question has to be asked then why they just didn't close the business down, I mean if they managed to turn around their negative net worth, paid back the director loans and paid off all their creditors, then that would be the best way... no need for a liquidation...
> 
> however, the description above, about business as normal, same people, just a different name does sound very much like a Phoenix company... by it's very nature, that is what it does...and in most cases, someone has to lose out on money they are owed...
> 
> :thumb:


Not knowing the true ins and out in this case but on the whole Closing down one business and opening striaght up as another is a dirty game IMO It shouldnt be allowed and directors of the original business should be held accountable for the debt not just draw a line and start again.

It used to be the choice of double glazing companys but if top end companys are doing it now its a poor state of affairs.


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## Rob_Quads (Jul 17, 2006)

Its becoming common place now. I know too many small companies that have done this. Its a joke how easy it is and how the same people are allowed to continue to 'own' businesses.


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## AndyC (Oct 25, 2005)

I spoke to someone recently who was involved with Parc Ferme and inferred that they were about to disappear. Have to agree with others totally in that if there's no financial nasties then no need for liquidation - and resurfacing with a new name and the same directors isn't exactly rocket science.


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## RaceGlazer (Jan 10, 2007)

There is more to this in terms of why, none of it nefarious, that I am aware of and which gives me no concerns as to the ongoing viability of being a Zymol stockist. 
Zymol is a very important part of my business and I don't see any issues at all.
I have today placed an order and paid for £4k of products which we will have in stock early next week.
All this shouldn't concern anyone in terms of getting supply of products.


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## Rob_Quads (Jul 17, 2006)

RaceGlazer said:


> Zymol is a very important part of my business and I don't see any issues at all.
> I have today placed an order and paid for £4k of products which we will have in stock early next week.
> All this shouldn't concern anyone in terms of getting supply of products.


I don't think anyone doubts that supply will continue its more the fact that rather than closing the business down they went into administration which you would only do to write off dept.

Have you paid upfront for your 4K order?


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## Antbunt (Jan 14, 2008)

There are all reasons to liquidate. One I can think of is to release themselves from buildings lease. If they have been tied to long lease. Cheaper way out than pay out. But I have searched Voiture Ltd it's used car sales.


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## RaceGlazer (Jan 10, 2007)

I have paid up front.

I think that shows that as far as I am concerned its business as usual.

Interesting search results - unexpected, and surely unconnected, must be some slight difference (2012?) in the Z business name. Or unincorporated entity or LLP.


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## Immortal Tekniq (Mar 11, 2009)

Hi all,

Still no signs of my order that was placed 2 weeks ago. Does anyone have a number for zymol uk that actually works. The number I have: 08454740167

Sent from my HTC Desire using Tapatalk


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## polt (Oct 18, 2011)

Don't know if this is relevant but if you have paid for a product and it's not arrived and the company has gone under or even if it's just not arrived. If it's £100 or more and paid for by credit card then you can claim your money back from the credit card company, as they are jointly liable under section 75 of the consumer credit act.

Just thought in this day and age (recession) even if you have money in the bank to pay for stuff then still use credit card even to pay a deposit of £100 it still offers protection. Thing is you never know who'll be next.


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## justina3 (Jan 11, 2008)

Antbunt said:


> There are all reasons to liquidate. One I can think of is to release themselves from buildings lease. If they have been tied to long lease. Cheaper way out than pay out. But I have searched Voiture Ltd it's used car sales.


as already mentioned elsewhere in this thread someone always gets shafted in your example the landlord


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## Mark M (Nov 29, 2006)

I just placed an order for Vintage with Craig and Lynn under Voiture. Communication has been excellent, calls to my house and emails.


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## The Cueball (Feb 8, 2007)

Essentially insolvency legislation prohibits any person who has been a director or shadow director of a company at any time for a period of 12 months preceding that company entering liquidation from carrying out the following for a period of 5 years following liquidation:

Be a director of a company that operates with a similar name or trading style (so close to infer an association with the liquidated company);

Be involved in any way (whether that be directly or indirectly) in the promotion, formation or management of another company with a similar name or trading style;

Be involved in any business which trades in a similar trading style as the company which entered liquidation.

Breaching this legislation is a criminal offence and therefore leaves the person(s) involved liable to imprisonment and/or a fine, and possible disqualification from being a director in the future. Also, should the subsequent company or business fail leaving a shortfall to its creditors, then the person(s) involved may also be made personally liable for the shortfall to creditors.

So the implications of any breach of the legislation are pretty severe and for good reason. The legislation is there to protect against unscrupulous directors who set-up companies only to rack up debts that they never intended or were ever realistically able to pay, close them down and set up a new “phoenix” operation to do the same again. Most would agree that those who operate in this way should be stopped from doing so.


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