Discussion Comfy Café #14

Apparently they were trading while insolvent for since 30 June 2022 or 2023................ The original owner sold it to a private equity firm who appointed CEO and CFO who had no idea what the **** they were doing. So the company went from profitable to being run into the ground and losing money. They bought the original owner back in but wouldn't let him to any changes required to fix it so they went bankrupt (basically debt piled up and couldn't be paid off). The new owners bought the company and agreed to fulfil all existing orders (which they had no requirement to do). Refunds were originally meant to become unsecured creditors which would mean once the bankruptcy is finalised, and the secure creditors paid out, any left over money would be given to unsecured creditors (who would receive a dividend based on how much they are owed. Could be 10%, 50% 90% 100%, likely very little of the original funds). There was no warning to anyone they were bankrupt. It was just announced one day.

 

Yeah. That's why if reasonable I would like to do business with the new people. Like, that's a real good thing to fix people that they have 0 obligation to do. Obviously they crunched the numbers and it made sense. But still.

 

You misunderstand. I am now wary of every store. I won't be preordering anything of that amount ever again and waiting months. I will never let an order be ongoing for that long. This doesn't apply just to mwave. Any company could go bust at any point. It was a valuable lesson.

 

No really. There are people that lose far more than I could have. Like building a house and the builder goes bankrupt and you're just fucked. Or you can just wait a few months for availability to improve. I mean, you can still preorder it without much risk. The bank can usually charge back within 60 days. Paypal I think within 180 days and same for some credit cards. It was my fault for trying to save a few dollars not paying with paypal, and letting it sit there doing nothing for 6 months. Bad judgment.

 

She'll be right. Shit happens.

 

RIP to his toe. 19xx to 2025. o7