MCR appointed administrators for Vergo Retail Limited

Vergo Retail Limited (In Administration) ("the Company")

Last Updated: 12 May 2010

Sarah Bell and Steven Muncaster of MCR were appointed as joint administrators ("Administrators") to Vergo Retail Limited on the morning of 7 May 2010. Both Administrators are licensed by the Insolvency Practitioners' Association.

The Administrators announced closing down sales of nine retail outlets, and regrettably the redundancy of 335 positions across the business with effect from 11 May 2010.

The stores are expected to close within the next four weeks; however, a purchaser for these stores will not be ruled out until they finally stop trading.

A closure date for Lewis's department store in Liverpool has also been confirmed to be within the next four weeks, following an announcement prior to the administration that it was set to close.  The remaining 10 stores will continue to trade as usual in the short term while a purchaser for the business is sought.

• The list of stores for closure:
   
  1)   Liverpool (this is additional store closing down outside the actual administration case - it is not counted as one of the nine)
  2)   Sunderland
  3)   Hexham
  4)   Whitam
  5)   Clacton on Sea (Department Store)
  6)   Stowmarket
  7)   Derry's
  8)   Colchester Jewellery
  9)   Norwich
  10)  Dovercourt

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 Administrator is to deal with the business and assets of the insolvent estate. Their role is not to replace the Directors of the Company nor are the Administrators accountable for the management of the business prior to their appointment.

Outstanding Customer Orders Download here

A full review of all customer orders is currently taking place by the Administrators to determine which orders it is possible to fulfil. 

In the event that it is not possible to fulfil orders and deposits have been paid by credit card or Visa debit card, customers should contact their card provider in order to initiate a charge-back of any sums paid. The Administrators are unable to provide customers with proof of non-delivery. Please note the timing and quantum of charge-backs by the card issuers is beyond the control of the Administrators and no assistance can be provided in this regard.

In the event that it is not possible to fulfil orders and customers have paid by either debit card or cash, the amount owed will rank as an unsecured claim against the Company in the Administration and you must complete and return the Proof of Debt form below.

All customers with outstanding orders should complete the customer order form and return to MCR 11 St James Square, Manchester, M2 6DN or vergoretail@mcr.uk.com.

Gift Vouchers

Gift vouchers issued are not ordinarily redeemable once a company enters an insolvency process.

Should you possess a gift voucher you may have an unsecured claim against the Company.

The joint administrators have agreed that upon presentation of a Vergo gift voucher in store you will offered a discount equivalent to the value of your gift voucher to fund up to 50% of the value of any items which you purchaser. For instance if your voucher is worth £5 then you will receive a discount of £5 on purchases of £10 or more. If the same voucher is used to purchase a item worth £7, you will only given a discount of £3.50 and you must claim the remaining £1.50 as an unsecured claim in the administration by completing the Proof of Debt form below.

Proof of Debt form Download here

To register any unsecured claim please download a Proof of Debt form and return it to MCR 11 St James Square, Manchester, M2 6DN or vergoretail@mcr.uk.com.

Trade creditors and suppliers

Trade creditors of the Company should download a Proof of Debt form and return it to MCR 11 St James Square, Manchester, M2 6DN or vergoretail@mcr.uk.com.

The Administrators initial report to creditors will be distributed to all known creditors before 8 July 2010.  A copy of the report will also be available to down load from http://www.mcr.uk.com/.

Concession suppliers

If you are a concession supplier and have not yet been contacted, please email vergoretail@mcr.uk.com and a representative of the joint administrators will contact you forthwith.