kdubya Posted May 9, 2008 Report Share Posted May 9, 2008 Its true folks. Anyone who had a gun on Sale or Return with them or is owed any money by them is gunna end up with very very little. Just imagine if you had a nice Purdey in there........ gone...... you'll be lucky to see 5p in the £ re-imbursement. They owe a LOT ( and I mean that ) of wonga. surely the administrators can NOT sell on / aquire as assets items that are identifyable as belonging to others, ie if you have a shotty in for repair or sale, be it a purdy or a lanber then the fact it is registered and accounted for on your ticket means you CAN prove its yours and a liquidator would be well in the brown stuff if he flogged it cheers KW Quote Link to comment Share on other sites More sharing options...
Cushat Posted May 9, 2008 Report Share Posted May 9, 2008 They have issued Royal Berks Shooting School (Litts has a shop there) with a statement to pass on to anyone asking to the effect that the company has gone into receivership and the shops are closed for stocktaking by the receivers. Wonder if there's going to be any bargains to be had or if they'll just write off the debts and start up again under a new name?? Quote Link to comment Share on other sites More sharing options...
al4x Posted May 9, 2008 Report Share Posted May 9, 2008 liquidators will simply sell it as a going concern usually seems to be for naff all to existing management and all debtors will be told to go sing for their money. Guns on sale and return or repair aren't actually the property of Litts so I would say you should get them back, with the licensing system we have it shouldn't be difficult to proove ownership. However I'd be finding out who the administrators are ASAP and lodging a claim of ownership Quote Link to comment Share on other sites More sharing options...
choke it Posted May 9, 2008 Report Share Posted May 9, 2008 yes they shut early tuesday afternoon i heard they owe 20 million pound there will be a lot of sad face's about now. i now lads who have lost kit now i will be looking out for the sale there should be some cheap kit up for grabs bad side is us local lads will have to find a new gun shop now Quote Link to comment Share on other sites More sharing options...
2shots Posted May 9, 2008 Report Share Posted May 9, 2008 anyone thats got guns in here should be in contact with thier flo to intervene, I remember a guy getting his rifle back from the receivers when a gun shop in durham went bust years ago,but not until the firearms officer intervened,the receivers had just added it to saleable stock,which I imagine will also cause a nightmare if you dont have receipts of transfer etc. Quote Link to comment Share on other sites More sharing options...
malkiserow Posted May 9, 2008 Report Share Posted May 9, 2008 I am sorry for anyone who has got caught up on this. Administrators are not normally the nicest people to deal with but they do have to work to the rules. Before anyone else says it.... I guess they have gone "Litts Up" Quote Link to comment Share on other sites More sharing options...
Jonsey Posted May 10, 2008 Report Share Posted May 10, 2008 It's sad for the guys that work there. I've been to the shop many times and got to know Mike quite well. I don't know his surname but he's a lovey man. Very helpful. Quote Link to comment Share on other sites More sharing options...
bullterrier Posted May 10, 2008 Report Share Posted May 10, 2008 I`ve had a few bits from them myself, although nothing major. Sad to see this happen when I`ve used them they`ve always been helpful & I`ve always recieved the goods in a decent time. Quote Link to comment Share on other sites More sharing options...
steve_b_wales Posted May 10, 2008 Report Share Posted May 10, 2008 I was a member there for many, many years, in the good old days of handguns. I spent many thousands of pounds over the years plus recommended them to my friends who also spent loads. But when I go there ( not very often) I am virtually ignored. If I was to wear a tweed suit and said "Guffaw Guffaw" that would be different. Still, I am sorry if they have gone under, if only for the one or two good staff there. Quote Link to comment Share on other sites More sharing options...
Numble Posted May 11, 2008 Report Share Posted May 11, 2008 Bloody hell that was lucky I had my last 2 items sent to me on Monday by them, did take 2 weeks to get my first camo kit.They seemed nice guys when i talk to them on the phone and glad i got my stuff after the nightmare that is optics warehouse. Hope you guys get your odds and **** thought. Quote Link to comment Share on other sites More sharing options...
welshruger Posted May 11, 2008 Report Share Posted May 11, 2008 Rumours are rife here to, all locked up and the man on the gate telling people they have gone bust! I to have spent loads there, been ignored for hours, I was there once with a mate who bought the new remi auto (load of ****, now its gone)we were in the shop for 2 hours!! they were more interested with a couple who were looking a a beretta, who in the end did not buy it!!! Quote Link to comment Share on other sites More sharing options...
dazza Posted May 11, 2008 Report Share Posted May 11, 2008 When you try to order of the website it says 'site under maintenance please try later' Quote Link to comment Share on other sites More sharing options...
paul hart Posted May 11, 2008 Report Share Posted May 11, 2008 34 million and counting as my mate lives next door to andrew litt, and he says it will be up to 50 million OUCH. Quote Link to comment Share on other sites More sharing options...
Taff Mason Posted May 11, 2008 Report Share Posted May 11, 2008 (edited) how the hell do you get 34 million in dept Edited May 11, 2008 by Taff Mason Quote Link to comment Share on other sites More sharing options...
Gavo Posted May 12, 2008 Report Share Posted May 12, 2008 Sad news as it was pretty much the only gun place in the newport area. I need to find out more as my mates brother works/worked there. Quote Link to comment Share on other sites More sharing options...
Chard Posted May 12, 2008 Report Share Posted May 12, 2008 how the hell do you get 34 million in dept Scary stuff - it makes you wonder about the financial stability of other well-known companies. You never know what financial juggling goes on behind the scenes of some of these companies, until this happens Quote Link to comment Share on other sites More sharing options...
Taff Mason Posted May 12, 2008 Report Share Posted May 12, 2008 Scary stuff - it makes you wonder about the financial stability of other well-known companies. You never know what financial juggling goes on behind the scenes of some of these companies, until this happens thats true mate, makes me wonder why they tried to rob me of a few hundred bucks with money like owed Quote Link to comment Share on other sites More sharing options...
fallowbuck Posted May 12, 2008 Report Share Posted May 12, 2008 This is bad news for shooters as Litts had gone from humble beginnings in Maindy Road Newport, Gwent(originally a Newsagents) to one of the biggest gun retailers in the country from their new base on Maesglas industrial estate. I liked Don the father and Maurice , one of the old school of gentlemen.However, as quite a few here have said ,they expanded very quickly and tended to ignore their local bread and butter clients treating them rather badly on occaisions!I think delusions of grandeur springs to mind! Especially when Don retired! The move to Royal Berkshire was a ill conceived move I think and this was compounded when the amalgamation with the"Sportsman " in Devon folded.! It is a black day for shooting however, as thats a very large dealership to lose and maybe another nail in the coffin! Quote Link to comment Share on other sites More sharing options...
pestbry Posted May 12, 2008 Report Share Posted May 12, 2008 (edited) It was MALPAS ROAD fallowbuck, and Don had a newsagents but started off next door in an upstairs bedroom. That must have been 30 odd years ago. Shame really Edited May 12, 2008 by pestbry Quote Link to comment Share on other sites More sharing options...
fallowbuck Posted May 12, 2008 Report Share Posted May 12, 2008 Hmm, thanks for correction, it is a shame but it was never the same when Andrew took over,I must have going there for about 29 years and as many have said if you wanted a Perazzi or Browning it was great but if you were one of the "masses"you didn't get a good response, especially in the latter years! Quote Link to comment Share on other sites More sharing options...
pestbry Posted May 12, 2008 Report Share Posted May 12, 2008 Not having a go at you Fallow I agree about Andrew taking over. And yes a few would ignore you if they knew that you only wanted something in the cheaper range lol Quote Link to comment Share on other sites More sharing options...
fallowbuck Posted May 12, 2008 Report Share Posted May 12, 2008 I have been a little concerned as before this bomb shell I found it very diffficult to contact them via phone or email.Looks like this American credit crunch is really starting to bite! Things are looking dodgy! Come to think of it Keens staff were a little down in the mouth last time I visited there. Quote Link to comment Share on other sites More sharing options...
Hunter Posted May 12, 2008 Report Share Posted May 12, 2008 (edited) What has this got to do with the yanks now? im pretty sure this is pure user error Sad, but this is what happens in the busineess world.. some grow, some die. Edited May 12, 2008 by Hunter Quote Link to comment Share on other sites More sharing options...
David BASC Posted May 12, 2008 Report Share Posted May 12, 2008 Dear All, I believe an official announcement will be made Tuesday 13th or Wednesday 14th. We will then find out the true story, and what will be the next step - liquidation or sale to a third party are the options i guess. I am sure that if anyone has guns with Litts for fixing then title will still be with you, and as all guns will be on their register, Gwent police will be on hand to sort out getting your guns back to you. David Quote Link to comment Share on other sites More sharing options...
fallowbuck Posted May 12, 2008 Report Share Posted May 12, 2008 (edited) What has this got to do with the yanks now? im pretty sure this is pure user error Sad, but this is what happens in the busineess world.. some grow, some die. Unfortunately everything! If Uncle Sam sneezes we get a cold! People are spending less on leisure items such as shooting products , because their more concerned about keeping their homes and paying for the insanely expensive fuel to get them to work. I'm afraid that things like a new gun or shooting coat are getting put on the back burner! I tell you it will get worse before it gets better! Edited May 12, 2008 by fallowbuck Quote Link to comment Share on other sites More sharing options...
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