MCR appointed Administrators for JS Childrenswear Limited

JS Childrenswear Limited (In Administration) ("the Company")

Updated: 30 April 2010

ADMINISTRATION

Paul Clark and Matt Bond, of MCR, together with Ian Yerrill of Gerald Edelman were appointed Joint Administrators ("Administrators") of JS Childrenswear Limited on 22nd January 2010. 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 insolvent estate.

TRADING / SALE UPDATE

Despite significant attempts, the Administrators were not successful in achieving a sale of the Company's business and assets.

The Administrators maintained trading operations from the majority of stores for a period of 10 weeks whilst attempting to achieve a sale. In the event that you provided a service for the Company during this period subject to approval by the Administrators, please submit an invoice for the attention of Eleanor Williams.

Please note that during the trading period all goods were sold as seen and returns will not be accepted. Your statutory rights remain unaffected.

ADAMS GIFT CARDS

The general position when a company goes into Administration is that customers would no longer be able to redeem any form of gift cards or vouchers purchased prior to the date of Administration. The unredeemed value of any gift card or value would rank as an unsecured claim against the company (ie. a pre Administration claim).

The Administrators on this occasion permitted Adams Gift Cards to be redeemed on the strict basis as set out below.

* Adams Gift Cards were honoured within the Adams stores on the sole condition that they can only be used to fund up to 50% of any overall transaction.

* For example; to redeem a £10 Adams Gift Card, the customer was required to purchase items to the value of £20 or greater. (Payment would then have been £10 Adams Gift Card and £10 cash/credit or debit card).

The use of gift cards in this way was not mandatory and any customer that still has vouchers should complete and submit a proof of debt form; the value of the outstanding voucher will rank as an unsecured claim against the Company. For further information regarding claims and to download a proof of debt form please see the section below entitled Statutory Process.

If you attempted to transfer money onto a gift card prior to our appointment and the card has not yet been credited with the funds, you will rank as an unsecured creditor. For further information regarding claims and to download a proof of debt form please see the section below entitled Statutory Process.

The Company did not sell any Gift Cards during the Administration trading period.

ONLINE CUSTOMERS WHO HAVE PAID IN FULL AND ARE YET TO RECEIVE GOODS

CREDIT CARD AND VISA DEBIT CARD PAYMENTS

Customers should contact their credit card issuer who may be able to initiate a charge-back for the order. Please note the timing, quantum and appropriateness of charge-backs by the credit card issuers outside of the control of the Administrators and no assistance can be provided in this regard.

If you are unable to claim chargeback then the monies owed to you will be ranked as unsecured.

CASH, CHEQUE, NON-VISA DEBIT CARD PAYMENTS

These claims will be classed as unsecured claims against the Company. For further information regarding claims and to download a proof of debt form please see the section below entitled Statutory Process.

EMPLOYEES

All staff made redundant were issued with form RP1 and this should be completed and returned to Carly Green at Payco. 

SUPPLIERS

A letter to the Company's creditors was issued on 23 January 2010.

All accounts with the Company should be closed with effect from the close of business on 21 January 2010. I would request that you send a statement of your final account direct to the Company's trading address in order that your claim against the Company can be noted. You will appreciate that no payment can be made to creditors of the Company in respect of debts arising prior to my appointment.

Goods or services supplied to the Company subsequent to the Administrators appointment on 22 January 2010 must only be made against orders which have been properly authorised by the Administrators and their staff.

Please note that the Administrators did not adopt any contracts entered into by the Company prior to their appointment.

Please refer to "Trading" for the payment process.

RETENTION OF TITLE ("ROT")

All known ROT matters have been dealt with by the Administrators. If you contend that you have any form of security or ROT in respect of goods that you previously supplied you should immediately forward full details of your claim to jschildrenswear@mcr.uk.com under the heading ‘ROT'.

STATUTORY ADMINISTRATION PROCESS

A detailed report containing the Administrators proposals were sent to all creditors on 18 March 2010. A copy of this report and a proof of debt form can be downloaded from the MCR website at www.mcr.uk.com or via this link.

The Administrators will continue to deal with the business & assets of the Company in order to realise funds to enable a distribution to creditors in the prescribed order of priority as set out in the Insolvency Act 1986.

ADDITIONAL INFORMATION

Please note the Administrators are unable to provide customers or trade suppliers with any other information other than the details contained on this website update.

Should the above information not fulfil your query please email jschildrenswear@mcr.uk.com in the first instance. Please detail in the Subject box of the email the nature of your query from one of the following:

*Interested Party
*Creditor/Supplier
*ROT
*Employee
*Customer