Sale of City Plumbing from Travis perkins to HIG Capital- will Travis perkins no longer be part of debt collection on City Accounts?

[MOSS 41]

HI,

 

More of a general question to see others thoughts as many people have been affected by Travis Perkins and aggressive recovery

 

In Terms and condition on trade applications including the dreaded personal guarantees ones

 

16.5 Save for any member company of travis perkins plc group, who shall be entitled to enforce any provision

of the contract, no person, not a party to the contract shall have the right to enforce any term of the contract  which expressly 

or by implication confers a benefit on that person.

 

 

So for example my contract is between city plumbing supplies holdings ltd and my company

Travis has sold (completing in  days) City on a no debt no cash acquisition basis  - so HIG (new owner) wont be taking on the debts, no cash amounts or debts on the balance sheet ?

 

 

so what happens to trade debts on balance sheet in this situation, who is legally in the position to enforce , just city plumbing holdings ltd as a singular entity, not travis (as no longer part of group) nor HIG (as they are not listed in the original contract)

 

 

i have a good relationship with city, went cash only at start of pandemic, and went on payment plan to reduce old outstanding credit account ive wanted to clear for ages

been working perfectly for 18months and already paid off down from 55k to 21K in 18 months while still putting 15k per month sales through local depot- win/win

 

out of the blue a final demand for old balance £21k remaining lands in email yesterday (never missed a payment on the plan)- asking to pay in 5 days exactly a day before the acquisition completes. no warning, no communication, nothing from anyone i know or have contact with in company

 

are they trying to quickly collect debt cash (as they retain it in the handover)

what happens to this trade debt if new owners arent taking it on?

 

will city plumbing as a singular entity free of travis perkins treat people better in collections in the future maybe?

 

 

 

 

[AndyOrch]

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asking to pay in 5 days exactly a day before the acquisition completes. no warning, no communication, nothing from anyone 

 

And no compliance with Pre Action Protocol should they wish to escalate this into litigation.

 

Andy

[MOSS 41]

i think it may be computer generated, just a final demand laid out like any other demand at the end of a credit month

 

maybe thought they were just sending it out to all, to see what they could get in in next few days,

its certainly not the type of 'final demand' that normally makes me sit up.

 

 

[AndyOrch]

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should they wish to escalate this into litigation.