Bugibba Independent Limited trading as Project D - FAQ
Posted on 30th August 2024 at 19:05
Jessica Thomas & Philippa Smith of Smith & Barnes Insolvency Practitioners Limited have been appointed as Joint Administrators of Bugibba Independent Limited, trading as Project D (hereon known as the Company) on 30 August 2024 and the Company has now ceased trading.
Please see below Frequently Asked Questions (FAQs), which are designed to answer queries that any affected parties may have.
The Joint Administrators act as agents of the Company and without personal liability.
Q – What is an administration and the role of the Joint Administrators?
A – An administration is an insolvency process used by companies that are unable to pay their debts when due. A moratorium has been placed over the Company as a result of Smith & Barnes' appointment and this means that no creditor can take legal action against the Company, except with leave of the court.
Jessica Thomas and Philippa Smith, licensed insolvency practitioners, have been appointed to handle the process and It is their role to identify and realise all of the Company’s assets with a view to making distributions to creditors, where available. The Administrators will also investigate the reasons for failure and the conduct of the director in the lead up to insolvency and will submit a report to the Insolvency Service in this regard.
Once the Administration process is complete, it may lead to another insolvency process, but ultimately the Company will be wound up with Companies House, its name removed from the register of limited companies, and will cease to exist as a legal entity.
Q – I am a customer and have ordered doughnuts - will I receive my order?
A – The Company has ceased trading and your order unfortunately cannot be fulfilled.
If you ordered via Shopify please contact them as they may be able to receive a refund, alternatively contact your banking provider to see if there are any ways for you to receive a refund via your bank. If you are unable to reclaim your funds elsewhere, you will have an unsecured claim against the Company and can contact us at confidential@sbip.co.uk to register your claim.
Q – I am a former employee who has been made redundant – how do I go about making a claim?
A – an email was issued to all employees on 30 August 2024 regarding the upcoming Administration appointment.
A further letter will be issued to all employees that were made redundant explaining how they can make a claim against the Redundancy Payments Service. It is expected they will be issued no later than 3 September 2024. Any employee who had not received this letter by 5 Sept 2024 should email us at confidential@sbip.co.uk to ensure we have your correct contact details.
Unfortunately, it is not possible to obtain a CN number prior to the appointment of Administrators, however, this will be circulated to all employees as soon as it is received.
Q - I was a self-employed contractor for events - when will I get my money for hours I have worked?
As you acted as a sub-contractor, and not a formal employee, you are unfortunatley unable to claim for amounts owed from the goverment.
Due to the Administration, you will not be paid for the amounts you are owed. The funds due to you are classed as ranking "unsecured" against the Company in the Administration process.
Should there be sufficient asset realisations, they may be a return to unsecured creditors, however, this is not appearing likely at this stage.
Please contact your local Job Centre who may be able to provide you with advice on what options are avaliable to you.
In response to the cost of living crisis, the government is offering help for households - see below link for more information.
https://helpforhouseholds.campaign.gov.uk/?_ga=2.86806301.420576193.1667904097-107782135.1655806361
Q – I am interested in contacting former employees to offer potential employment – can you provide their contact details?
A – Due to GDPR law, the Joint Administrators are unable to share private information of the employees. They will however, seek to contact former employees and provide them with details of potential new employers as required.
Please email details of any roles to confidential@sbip.co.uk so that these can be passed on as appropriate.
Q - The Company has been in a CVA - I am owed money so where do I stand?
Due the Administration order, the terms of the Company Voluntary Arrangement (CVA) have been breached and therefore terminated.
There are limited funds currently being held by the Supervisors of the CVA. The creditors included and bound by the CVA will be contacted accordingly
Q - I am owed money from the Company - what is the current position? Will I get my money back?
A – Creditors are ranked in a certain order in an insolvent administration, with an unsecured creditor ranking the lowest. Priority is given to all unsecured creditors first and foremost and any remaining payment will only be made to unsecured creditors once all other creditors, are discharged in full, along with costs of the Administration.
Unfortunately, any outstanding debts which remain after the Administration process will be written off, unless they have been secured by a director’s personal guarantee.
Notice of the administration will be sent under separate cover within seven days of our appointment together with a proof of debt form. If you have not received a copy of this notice after seven days of our appointment, please contact the Joint Administrators via email at confidential@sbip.co.uk to ensure we are aware of your contact details.
The Joint Administrators and their agents will be working hard with various affected parties to achieve the best outcome available and will provide an update to creditors within eight weeks of their appointment. The Joint Administrators will also issue a report to creditors within on month of the six-month anniversary of the appointment, however, at this early stage, we do not anticipate any material return to unsecured creditors. We appreciate that the failure of the Company will create an extremely difficult time for a number of parties involved and we will endeavour to help creditors where we can.
Q – I have supplied stock to the Project D, which have retention of title terms – can I recover my stock?
Please contact the Joint Administrators via email at confidential@sbip.co.uk to make us aware of your potential claim and the address where the items were delivered. We will ensure that your claim is dealt with quickly and you will be issued with a questionnaire to complete so you can provide evidence of supply and any retention of title clause.
The claim will then be reviewed by the Joint Administrators for validity and action taken as appropriate. However, suppliers should note that title may have passed to the customer and in particular, any supplies that have been fitted/used/amended are unlikely to be able to be claimed for.
Q – I have supplied equipment or assets to the Company under a lease, hire or hire purchase agreement. Can I recover my assets?
Please contact the Joint Administrators via email to confidential@sbip.co.uk to make us aware of your assets and the location they were supplied. Also include a copy of any agreement with the Company so that the Joint Administrators and their agents can review the documentation. All appropriate parties will be contacted and access to equipment or assets will be arranged, where possible.
Q - Will the Company's business / assets be sold?
A - Any parties interested in the Company's brand, intellectual property or tangible assets, should email confidential@sbip.co.uk with full details, which will be forwarded to our agents.
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