Have I been f#@ked over by BSC bike store melbourne going bust ?

[jbg]

Went into BSC Brunswick store on the 29/05 and ordered a 2012 XT groupset as I just sold my gt and was planing to do a new custom build, handed over $1200 (bsc require payment upfront) and was told it would be in store ready to go within 48 hours.
I told them I would be back in a week or two as I'm getting John at Gripsport to paint the frame (awesome job btw looks rad!) they said that was no problem and I could take my time.
Anyway, got the frame and went down there yesterday (26/06) to find the shop empty and a sign saying "BSC has ceased trading" and "for lay-buy and repair enquieries please contact office@bscbikes.com.au"
Sent through an email straight away but no response as yet, got a sinking feeling that I'm not going to see either my XT nor my $1200 again.
This was a pretty big purchase for me and I was trying to do the right thing by going through my lbs rather than using the many online sellers.
So have any other members here had any comunications with Bsc prior to the fold? sure I'm not alone.
Any advice or help would be much appreciated.

 

[retroenduro]

Ouch dude i hope it works out for you. I presume you had some sort of reciept from them?

 

[Shredden]

I would say give it a littttleeee while longer, they have just gone broke and I would imagine 4 stores worth of customers trying to get money/service bikes etc back would generate a fairly busy situation....

 

[steve24]

Give them some time.....

It may well be someone has your stuff put away, ready to pick up.
Why jump on here with negatives until you know the facts?

 

[Dozer]

Why jump on here with negatives until you know the facts?

Put yourself in JBG's shoes. I'd be peaking and want to eat someone's mailbox in pure rage.

 

[allan.taylor64]

If you dont get your XT or your Money, you may still be able to take them to the fair trade place, even if they're not an operational business any more

 

[JP]

Give them some time.....

It may well be someone has your stuff put away, ready to pick up.
Why jump on here with negatives until you know the facts?

Because the guy has dropped 1200 shekels on a groupset, the stores have gone belly-up, and he could potentially end up with nothing. The unknown outcome would be causing me some worry if I was in the OP's shoes.

 

[steve24]

Because the guy has dropped 1200 shekels on a groupset, the stores have gone belly-up, and he could potentially end up with nothing. The unknown outcome would be causing me some worry if I was in the OP's shoes.

The title of this thread is -F#@ked over by BSC bike store melbourne

I understand the OPs fear of loosing $1200 but i don't see he yet has any evidence that the store does not have his parts or will return his money.
When he hears nothing after a week or so fair enough, until then editing the title to "Have i been F#@ked over by BSC bike store melbourne ????
would seem a bit fairer IMHO....

 

[jan1]

Hi JBG,
Good luck my advice is to send nice emails and also contact the Liquidator (should be available as a public record) BUT be nice at all times.
You could be classed as a unsecured creditor where you will have to wait out for the outcome. You will need your receit and make sure you sibmit any paperwork required from the people listed above. Ive had a company that went broke on me owing $80000 and 18 months later it still isn't resolved (best out come 3cents in the dollar). No one wins when this happens and more companys are going broke every day, I've just recived a letter today requesting infomation from a Liquidator about another company (another $4/5 k lost). Not sure how retail works if your items have come in but whatever happens dont get angry or abusive be nice and helpful it will get you further in the long run. Please remember some one has lost their lively hod in a bussiness that they have worked their ass off to build and employees have most likely lost out as well.
If you want I can PM my number .
Andrew

 

[skwiz05]

Dont know about you guys, but Id be pissed. Id place a letter of demand in their mail box/slot, and failing any response within 48hrs.....well ...who knows what Id do next.......but wouldnt be pretty......

 

[driftking]

I agree with Steve24
While I understand how annoying and unfortunate the situation is I think the OP has posted something in a moment of anger before thinking about the situation and hearing back from them.
The OP more than likely hasn't even been screwed over, I'd wait for a reply to know what's happening before Flying off the handle and accusing them of screwing me over (or at least I'd try to in my angry state)

You have obviously paided for your parts and therefore would expect the company is legally binder to give you the item purchased or refund the money. If the contract/deal isn't meet they would have to look after you.

If it was a small retailer I would be more concerned but it is well known for a little while theses stores were closing and more than likely they will accommodate you. They can't just take your money and not deliver the parts.

This is deffinitely a drama but as of yet you have not been screwed over, just a huge inconvenience .

 

[walkietalkie]

Hi JBG,
Good luck my advice is to send nice emails and also contact the Liquidator (should be available as a public record) BUT be nice at all times.
You could be classed as a unsecured creditor where you will have to wait out for the outcome. You will need your receit and make sure you sibmit any paperwork required from the people listed above. Ive had a company that went broke on me owing $80000 and 18 months later it still isn't resolved (best out come 3cents in the dollar). No one wins when this happens and more companys are going broke every day, I've just recived a letter today requesting infomation from a Liquidator about another company (another $4/5 k lost). Not sure how retail works if your items have come in but whatever happens dont get angry or abusive be nice and helpful it will get you further in the long run. Please remember some one has lost their lively hod in a bussiness that they have worked their ass off to build and employees have most likely lost out as well.
If you want I can PM my number .
Andrew

Well said.
Like jan1 said, you'll more than likely become an unsecured creditor and generally be the last in that big line.
Our company recently had the same issue with a builder, $135K, resolved at 2 cents per dollar owed.

JBG, I cant offer any advice on the retail issue, but I do wish you the best of luck.
You have every right to be mad, let it out.....but prepare for a loss rather than gain unfortunately mate.

Regards

 

[pharmaboy]

You have obviously paided for your parts and therefore would expect the company is legally binder to give you the item purchased or refund the money. If the contract/deal isn't meet they would have to look after you.

If it was a small retailer I would be more concerned but it is well known for a little while theses stores were closing and more than likely they will accommodate you. They can't just take your money and not deliver the parts.
.

this is a question of legality and whether they had received the goods and a trasaction already made - in that case, the goods belong to the OP and not BSC.

This is most likely completely out of the hands of the bike store people and being handled by an insolvency firm. they will want to be certain about the status before handing any product over. It is illegal for them or the bike store owners to treat any creditor preferentially - trying to do the right thing for one is to do a disservice for other creditors.

The question of being badly treated really relates to whether they were trading while insolvent. I suspect your chances of getting any significant amount of money back is very low - but it hinges on the law as to whether you own the goods already, not on anyones good faith or ill will.

 

[SideFX]

They closed two weeks after your purchase , management would have known for sure that they were unable to trade them selfs out of insolvency and should have implemented purchasing policy to protect there customers . If a store makes you pay up front it means that there account/credit with the suppliers is crap and or they have no cash flow . All products are able to be returned to suppliers but do carry a restock fee of 10% and that should have been the deposit left .
The biggest problem is the liqudators is they charge a fortune and make sure they get there money and nothing stands in there way . I hope you do get your XT group but i would hold my breath .

 

[MARKL]

Bad luck to the OP - I can understand your frustration.

I would be getting onto your 'consumer affairs/department of fair trading' ASAP. You need to try and get this resolved as a consumer issue and not be grouped with unsecured creditors. If you are grouped with the unsecured creditors you will get nothing meaningful out of this.

I have seen a number of companies go broke over the years - it is a no win situation for anyone except the administrators. I have seen staff realising that they are not going to get paid take anything that is not nailed down, justifiable in many cases because the first interest of the administrator is their fees and everyone else can take a running leap.

 

[walkietalkie]

It is illegal for them or the bike store owners to treat any creditor preferentially - trying to do the right thing for one is to do a disservice for other creditors.

If I understand Insolvency laws, I see the above statement incorrect.
Consumers will generally be ordinary unsecured creditors and as such do not have any priority under the Corporations Act
and will only be paid after monies owing to other classes of creditors have been repaid.

JBG, if you paid by credit card.....request a refund or chargeback to your card via you bank. It may help??

Good luck

 

[dunndog]

Yeah as said they must've atleast had some idea of what was inevitably about to happen, yet still take a sizeable chunk of your hard earned. I hate businesses that do this. Such a scum act.
I know a guy that worked there on a casual basis, he found out about the closures the hard way, and well after me by reading about it here. He rocked for his shift and it was closed and completely empty. Still hasn't received a single word from anyone about anything including several days' pay he's owed.
I really hope you get your groupset mate, and I also really hope BSC's legacy isn't going to be the last minute penny pinching thieves that so many others are remembered for.

 

[walkietalkie]

JBG
Hope this helps.
click here.

 

[pharmaboy]

If I understand Insolvency laws, I see the above statement incorrect.
Consumers will generally be ordinary unsecured creditors and as such do not have any priority under the Corporations Act
and will only be paid after monies owing to other classes of creditors have been repaid.

Umm - Not sure whats incorrect - I agree 100% with your second sentence, and think the quoted passage does as well- ie you are likely to be treated as an ordinary unsecured creditor, which as most know almost never get a substantial amount back - secured do, employees do, and the tax office does (although this recently changed, so i am assuming the ATO didnt go all the way to the bottom of the list, but just behind employees)

 

[RocketRoddy]

While some of the stuff posted is usefull, there is more than one way to get your cash back.

Due to my employement, im unable to post publically but PM me and i may be able to point you in the direction of some otherwise pblic information.

Cheers