Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Topgifts.ie gone into liquidation

Options
  • 28-04-2011 8:50am
    #1
    maxer68
    Closed Accounts Posts: 1,076 ✭✭✭


    Yesterday Topgifts.ie went into liquidation.
    http://www.insolvencyjournal.ie/more_details/11-04-27/TopGifts_Corporate_Event_LTD.aspx

    Many people will have vouchers for various things such as flight lessons, rally car driving etc.

    It seems that the contract for the voucher is with topgifts and not the place named on the voucher - many of these places are owed thousands by topgifts, so they can't accept any more vouchers.

    If you have an unused voucher and it was paid for with credit card, you need to start the chargeback process with your credit card company.


«1345

Comments

  • Options
    #2
    xoxyx
    Registered Users Posts: 1,811 ✭✭✭xoxyx


    I heard about this yesterday - disgusted as I've recently bought a voucher from them as a gift. I used my Visa Debit and have been onto my bank to initiate a chargeback. Does anybody know how long these procedures normally take?


  • Options
    #3
    maxer68
    Closed Accounts Posts: 1,076 ✭✭✭maxer68


    xoxyx wrote: »
    I heard about this yesterday - disgusted as I've recently bought a voucher from them as a gift. I used my Visa Debit and have been onto my bank to initiate a chargeback. Does anybody know how long these procedures normally take?

    you're lucky it was visa debit as laser & mastercard debit cards don't do chargebacks.

    You may need to print off the notice in insolvency journal as proof of your claim, after that it can take up to 21 days. But at least you know you'll get the money back.


  • Options
    #4
    MissRetro
    Registered Users Posts: 138 ✭✭MissRetro


    I found on another forum that naturallyirish.ie are under the same management as TopGifts.ie. I tried ringing NaturallyIrish on 045837783(phone number difficult to find as they have taken it down from there website), got through, asked if I was through to NaturallyIrish, answer "Yes", asked what there plans for reimbursing the TopGifts customers were, "I cannot comment on that", asked if I could be put through to a manager who could comment on that, the girl then feebly tried to say that she didn't work for NaturallyIrish, I then asked why she would be answering phones for a company that she did not work for, she went blank while quick typing noises went on in the backround, I was then put on hold for 10 minutes and eventually hung up on :mad: Rang back again, same conversation, although sounding a little more pre-coached on her part this time. I finally left the conversation before losing my cool head with warnings that I would be taking this further.


  • Options
    #5
    maxer68
    Closed Accounts Posts: 1,076 ✭✭✭maxer68


    Unfortunately as Naturally Irish is a seperate company, though related, nothing can be done unless it can be proven that it operated in tandem with Top Gifts - a liquidator will check this out fairly quickly.


  • Options
    #6
    smokingman
    Registered Users Posts: 3,737 ✭✭✭smokingman


    Not surprised in the slightest.
    Back in early December, I tried to organise an activity I was given a voucher for and they initially told me they couldn't get an available date for it until after chrimbo. Rang the activity place up directly and they didn't know what they were on about - plenty of availability.
    When I eventually got them to organise it after a lot of back and forth, I was told at the activity by the guys running it that topgifts were late with a lot of payments for the activities for at least a few months.

    I wouldn't have put much thought into it but over coffee one morning about two weeks later, it seems that three other work colleagues had the exact same experience with top gifts effectively having no money to pay the activity centres even though they were getting the money from punters for the vouchers.


  • Advertisement
  • Options
    #7
    MissRetro
    Registered Users Posts: 138 ✭✭MissRetro


    maxer68 wrote: »
    Unfortunately as Naturally Irish is a seperate company, though related, nothing can be done unless it can be proven that it operated in tandem with Top Gifts - a liquidator will check this out fairly quickly.

    I am just waiting for the CRO office to re-open(14.30). They should be able to tell me for definite if TopGifts is a stand alone company or a subsidiary, although I am thinking after that odd telephone conversation that it is a subsidiary.

    "If the business that has gone into liquidation were a subsidiary of a larger company, it may be possible to claim directly from the parent company"- quoted from consumerconnect.ie.


  • Options
    #8
    MissRetro
    Registered Users Posts: 138 ✭✭MissRetro


    The CRO office could not give me this information, an advanced company search can be done on the CRO website but you would be charged for this. According to Insolvency Journal a meeting will be held on the 13th of May, after which a liquidator will be appointed so it seems there is nothing left to do until then :(

    The charge back process does seem like the best option, hopefully it works!


  • Options
    #9
    Mightycraic
    Registered Users Posts: 65 ✭✭Mightycraic


    maxer68 wrote: »
    Unfortunately as Naturally Irish is a seperate company, though related, nothing can be done unless it can be proven that it operated in tandem with Top Gifts - a liquidator will check this out fairly quickly.

    Their company accounts, available at www.cro.ie, will show that they have inter-company balances with Naturally Irish and will confirm the same three directors of both companies, resident in the same offices. These offices belong to the three directors who lease them to TopGifts. I would be more interested to know if the €191k in 2009 and €177k in 2008 they spent in 'Leasehold Improvements', presumably to the office that they personally owned, is above board? They have only just lodged abridged accounts for 2010 showing a capital of around 20k.


  • Options
    #10
    maxer68
    Closed Accounts Posts: 1,076 ✭✭✭maxer68


    Mightycraic wrote: »
    These offices belong to the three directors who lease them to TopGifts. I would be more interested to know if the €191k in 2009 and €177k in 2008 they spent in 'Leasehold Improvements', presumably to the office that they personally owned, is above board? They have only just lodged abridged accounts for 2010 showing a capital of around 20k.

    They did open a shop in whitwater sc in 2008, so I suspect that cost of fitout of that shop is in there somwhere - but it was a very small shop, so I can't see it costing more than 70 - 80k.


  • Options
    #11
    Mightycraic
    Registered Users Posts: 65 ✭✭Mightycraic


    Anyone on here involved in company law? If so, could a class action be filed against the three directors, based on the background of lies that have been told in order to prevent gift vouchers being used?


  • Advertisement
  • Options
    #12
    maxer68
    Closed Accounts Posts: 1,076 ✭✭✭maxer68


    Mightycraic wrote: »
    Anyone on here involved in company law? If so, could a class action be filed against the three directors, based on the background of lies that have been told in order to prevent gift vouchers being used?
    Class actions are American.

    What is needed is to ensure the director's nomination for liquidator doesn't get in. Not that they would do anything untoward, but they can go down an easier route and still comply with all requirements. The nomination with the highest debt amount wins out, therefore anyone who gets a form must sate they oppose the directors nomination.

    The liquidator has to file 6 monthly reports to the office of the director of corporate enforement and the ODCE can and will take legal action against directors is they are found to be running the company whilst insolvent or doing anything else wrong. The ODCE can order the winding up of related companies or repayment of monies that should not have been paid out.

    On the flip side - business owners are inherently positive and always expect / hope that things will turn around. Topgifts did a lot of advertising last Christmas and possibly too much as the money simply was not in the market for the type of gifts they sell. As posted above, they also had a retail shop with a high rent and they attended many trade shows, which also cost a lot.
    In hindsight, they probably should have closed in January if the Christmas sales did not materialise, but my guess is they hoped for a good mother's day / Easter, but this simply did not happen for them or for many other gift companies.

    Their business model was wrong too - they should have just acted as an agent for the various experiences and taken a commission rather than issue the vouchers themselves.


  • Options
    #13
    bumpydog
    Closed Accounts Posts: 144 ✭✭bumpydog


    maxer68 wrote: »
    Class actions are American.

    What is needed is to ensure the director's nomination for liquidator doesn't get in. Not that they would do anything untoward, but they can go down an easier route and still comply with all requirements. The nomination with the highest debt amount wins out, therefore anyone who gets a form must sate they oppose the directors nomination.

    The liquidator has to file 6 monthly reports to the office of the director of corporate enforement and the ODCE can and will take legal action against directors is they are found to be running the company whilst insolvent or doing anything else wrong. The ODCE can order the winding up of related companies or repayment of monies that should not have been paid out.

    On the flip side - business owners are inherently positive and always expect / hope that things will turn around. Topgifts did a lot of advertising last Christmas and possibly too much as the money simply was not in the market for the type of gifts they sell. As posted above, they also had a retail shop with a high rent and they attended many trade shows, which also cost a lot.
    In hindsight, they probably should have closed in January if the Christmas sales did not materialise, but my guess is they hoped for a good mother's day / Easter, but this simply did not happen for them or for many other gift companies.

    Their business model was wrong too - they should have just acted as an agent for the various experiences and taken a commission rather than issue the vouchers themselves.

    Whilst I agree with some of your points, I do not believe for one minute that TopGifts suffered as much as they might suggest with their Christmas sales. We are (were) one of their high-ticket partners and we saw maybe a 5% drop in direct sales over Christmas, which leads me to believe that those who purchased vouchers from them at Christmas have been given the same run-around which is frequently being heard from the holders of said vouchers. We have not received a single enquiry since Christmas and I know that one TG voucher holder (who purchased their voucher last July) has been given countless excuses as to why they cannot partake in the activity, all of which were clearly untrue.

    It is my firm belief that the three directors of TopGifts should be held *personally* responsible for their work practice and ethics (or lack of). Watch this space!

    Malcolm.


  • Options
    #14
    Forest Master
    Registered Users Posts: 1,466 ✭✭✭Forest Master


    People need to stop buying vouchers during this recession. Every week since late-2008 there's a new topic in here or AH about people with vouchers for a company that has just gone into receivership/liquidation. Have people learned nothing in over 2 years?


  • Options
    #15
    maxer68
    Closed Accounts Posts: 1,076 ✭✭✭maxer68


    bumpydog wrote: »
    Whilst I agree with some of your points, I do not believe for one minute that TopGifts suffered as much as they might suggest with their Christmas sales. We are (were) one of their high-ticket partners and we saw maybe a 5% drop in direct sales over Christmas, which leads me to believe that those who purchased vouchers from them at Christmas have been given the same run-around which is frequently being heard from the holders of said vouchers. We have not received a single enquiry since Christmas and I know that one TG voucher holder (who purchased their voucher last July) has been given countless excuses as to why they cannot partake in the activity, all of which were clearly untrue.

    It is my firm belief that the three directors of TopGifts should be held *personally* responsible for their work practice and ethics (or lack of). Watch this space!

    Malcolm.

    Just giving possibilities and forewarning on what may be said. - You need to have your figures handy to counteract whatever is said.

    Also you and every other creditor need to band together and get your nominated liqudator appointed. If you show enough potential issues with their accounts and the way they ran the business, the revenue (assuming they are owed a fair whack) may switch over to your side or at the very least stay neutral.

    If the directors are "owed" rent on the building, you can claim that it is way above market value. Market value rent for their building is currently about €20,000 per year, but would have been at €30,000 - €35,000 per year in the boom. Over this and the directors are being over paid rent.


  • Options
    #16
    Dbubba
    Closed Accounts Posts: 2 ✭Dbubba


    I purchased a ticket for my father for fathers day last year, and only been able to book the flight recently due to some medical issues he had. As it was almost a year ago do you think I would be able to get a chargeback?

    I paid with Bank of Ireland laser!

    So annoyed, he was really looking forward to the flight aswell!!!

    Donna:mad:


  • Options
    #17
    maxer68
    Closed Accounts Posts: 1,076 ✭✭✭maxer68


    Dbubba wrote: »
    I purchased a ticket for my father for fathers day last year, and only been able to book the flight recently due to some medical issues he had. As it was almost a year ago do you think I would be able to get a chargeback?

    I paid with Bank of Ireland laser!

    So annoyed, he was really looking forward to the flight aswell!!!

    Donna:mad:

    Unfortunately not. Laser does not have chargeback insurance only Visa & Mastercard credit card & Visa debit cards.


  • Options
    #18
    Dbubba
    Closed Accounts Posts: 2 ✭Dbubba


    Thanks Maxer 68!!

    I have learnt my lesson and will not be purchasing vouchers again:(


  • Options
    #19
    Mightycraic
    Registered Users Posts: 65 ✭✭Mightycraic


    Dbubba wrote: »
    Thanks Maxer 68!!

    I have learnt my lesson and will not be purchasing vouchers again:(

    Just don't use either a Mastercard debit card or Laser. Only use a card that offers chargeback insurance when buying ANYTHING mail order.


  • Options
    #20
    Mightycraic
    Registered Users Posts: 65 ✭✭Mightycraic


    Forest Master wrote: »
    People need to stop buying vouchers during this recession. Every week since late-2008 there's a new topic in here or AH about people with vouchers for a company that has just gone into receivership/liquidation. Have people learned nothing in over 2 years?

    Just curious? What other voucher companies (weekly?) have gone into receivership/liquidation?


  • Options
    #21
    Mightycraic
    Registered Users Posts: 65 ✭✭Mightycraic


    Dbubba wrote: »
    Thanks Maxer 68!!

    I have learnt my lesson and will not be purchasing vouchers again:(

    Maybe legislation is needed whereby vouchers may only be sold by those providing the service. It's not difficult, in this day and age, to find the providers of activities rather than go through an intermediary company such as TopGifts. It's clear that they add no tangible value.


  • Advertisement
  • Options
    #22
    ppink
    Registered Users Posts: 1,458 ✭✭✭ppink


    bumpydog wrote: »
    We have not received a single enquiry since Christmas and I know that one TG voucher holder (who purchased their voucher last July) has been given countless excuses as to why they cannot partake in the activity, all of which were clearly untrue.

    It is my firm belief that the three directors of TopGifts should be held *personally* responsible for their work practice and ethics (or lack of). Watch this space!

    Malcolm.


    Same as that! I purchased a voucher from them and after we booked they cancelled on us with very short notice blaming the actual event company saying that rally driving is not done in ice:confused::confused:
    I called the event company and asked them and was told that was not at all true and they were running!!

    Called back topgifts to complain and was told director would call me back.........she never did! so decided then and there no more topgifts!!


  • Options
    #23
    bumpydog
    Closed Accounts Posts: 144 ✭✭bumpydog


    ppink wrote: »
    Same as that! I purchased a voucher from them and after we booked they cancelled on us with very short notice blaming the actual event company saying that rally driving is not done in ice:confused::confused:
    I called the event company and asked them and was told that was not at all true and they were running!!

    Called back topgifts to complain and was told director would call me back.........she never did! so decided then and there no more topgifts!!

    OK, keep an eye on boards.ie and, possibly, the national press. I think that you'll find that this debacle isn't over just yet. I understand that there will be a request put out for all TopGifts voucher holders to complete a questionnaire to be followed by potential action against the 3 directors. Further details will become available following expert legal advice.

    Malcolm.


  • Options
    #24
    Mightycraic
    Registered Users Posts: 65 ✭✭Mightycraic


    I think the three of them will look quite fetching in that fancy bright orange number


  • Options
    #25
    patrickc
    Registered Users Posts: 7,877 ✭✭✭patrickc


    raging,

    my fiancee got me a voucher for a driving experience and she had been tryong to book it numerous times, they kept saying no availability but would get back with dates, they hadnt responded to emails and calls, and now we know why. :mad::mad:

    just found out she paid by cc so at least thats something.


  • Options
    #26
    bumpydog
    Closed Accounts Posts: 144 ✭✭bumpydog


    Hi all, following the surprising collapse of TopGifts earlier this week, I would be grateful of any names/details of their gift voucher partners that you might be aware of. So far we have Irish Balloon Flights (our company), ODD in Cavan, Eirecopters at Weston and Buggyworld in Co. Kildare. Clearly, there are many, many more.

    Hope some of you can help fill in the gaps.

    Malcolm


  • Options
    #27
    ppink
    Registered Users Posts: 1,458 ✭✭✭ppink


    http://www.mondello.ie/

    http://bluestarhelicopters.com/

    http://www.superdriveni.com/


    they also had a birds of prey walk in Offaly i think, not sure of name

    mondello did the actual race track but also the Quest events

    superdrive in Portadown and Blue Star helicopter flights from Cork airport


  • Options
    #28
    ike
    Registered Users Posts: 1,406 ✭✭✭ike


    We started working with them early last year (Singing Star Experience)

    www.singingstarexperience.com


  • Options
    #29
    dudara
    Registered Users Posts: 33,519 ✭✭✭✭dudara


    Threads merged

    dudara


  • Options
    #30
    Forest Master
    Registered Users Posts: 1,466 ✭✭✭Forest Master


    Mightycraic wrote: »
    Just curious? What other voucher companies (weekly?) have gone into receivership/liquidation?

    Eh, I didn't say it was "voucher companies" going out of business - I said companies in general, and that people need to stop buying vouchers during this recession because every week for over 2 years people are getting stung and then complaining.

    e.g. - we all know Xtra Vision are on the verge of going out of business (CLARIFICATION - an interrim examiner has been appointed to XtraVision), and HMV are losing money hand over fist - yet if or when it happens, you'll still get people on here moaning about unused vouchers for both places, even though we know NOW that it's a very likely possibility.

    Heritage in Killenard
    http://www.boards.ie/vbulletin/showthread.php?p=66677802

    Shandon Hotel
    http://www.boards.ie/vbulletin/showthread.php?p=70977587

    Lynch Hotels
    http://www.boards.ie/vbulletin/showthread.php?p=71492703

    Hughes & Hughes
    http://www.boards.ie/vbulletin/showthread.php?p=64663817

    Sasha
    http://www.boards.ie/vbulletin/showthread.php?p=59257375

    fashion shop
    http://www.boards.ie/vbulletin/showthread.php?p=71330502

    Free Spirit Salon
    http://www.boards.ie/vbulletin/showthread.php?p=64983834

    Mint Restaurant
    http://www.boards.ie/vbulletin/showthread.php?p=59950550

    Essenuals hair salon
    http://www.boards.ie/vbulletin/showthread.php?p=69900840

    Zavvi
    http://www.boards.ie/vbulletin/showthread.php?p=58668989

    Ladybird
    http://www.boards.ie/vbulletin/showthread.php?p=65097121

    Habitat Ireland
    http://www.boards.ie/vbulletin/showthread.php?t=2055292521

    Premier Golf
    http://www.boards.ie/vbulletin/showthread.php?p=59918030

    Budget Travel
    http://www.boards.ie/vbulletin/showthread.php?t=2055750915

    Jim Langans, Reids Furniture, Classic Furniture, etc, etc, etc.

    Shall I keep going?


  • Advertisement
  • Options
    #31
    maxer68
    Closed Accounts Posts: 1,076 ✭✭✭maxer68


    I'd delete the comment about xtravision - they are in examiners. It's a planned move to legally extricate themselves from certain leases. They continue to trade normally and vouchers continue to be valid.


Advertisement