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BR Blue

DJM, the end.

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1 hour ago, truffy said:

More specifically, since this time he’s gone into liquidation (I’m not sure how ‘Nthusiast ended), there may be limitations on how/if he can start up again.

 

I realise that people do, but they appear to be serial swindlers and ne’er-do-wells. I think DJ is not necessarily of this type, just a dreamer out of his depth. 

Depending on exactly what has taken place - which we still don't know of course - there is a possibility that DJ might be disallowed as a company director for a period of several years.  But that wouldn't necessarily stop him setting up in business although it could mean his personal exposure to business debts would be much greater if it was not a limited company (which has to have a director).

 

Equally there might be nothing to stop him buying DJModels as a brand or shell of a company from the liquidator although no doubt any assets would have been sold to meet the creditors.  But we don't as yet know exactly how that would work out because we have yet to see the Statement of Affairs and we don't even know who any creditors might be (apart from crowdfunders).  But legally there is - as I understand matters - nothing to stop anybody, including former directors of a liquidated company, buying any unencumbered assets of that company when it goes into liquidation and the assets are sold off to the highest bidder.  Don't forget the liquidators are duty bound to sell the disposable assets to the highest bidder in order to achieve the maximum possible amount to hand over to creditors (and meet their fees).

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I realise that people do, but they appear to be serial swindlers and ne’er-do-wells. I think DJ is not necessarily of this type, just a dreamer out of his depth. 

 

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I remain to be convinced.

 

i to am of the under funded dreamer rather than swindler thought's on DJ 

if he was a swindler nothing would have been produced no J94s of any kind you don't wast time actuly makeing something you go for the kill on say crowdfunding and run.

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14 minutes ago, Graham456 said:

 

Quote

I realise that people do, but they appear to be serial swindlers and ne’er-do-wells. I think DJ is not necessarily of this type, just a dreamer out of his depth. 

 

Quote

I remain to be convinced.

 

i to am of the under funded dreamer rather than swindler thought's on DJ 

if he was a swindler nothing would have been produced no J94s of any kind you don't wast time actuly makeing something you go for the kill on say crowdfunding and run.

Simple answer is that as yet we don't know any numbers (and we might never know any relevant numbers) although the Statement of Affairs and possibly any subsequent events might give us some real idea of what took place and what money went where (although I doubt it will).  

 

It is very easy to sling around various thoughts or impressions without definite information although some things are reasonably obvious from the way the business was conducted - which seemed to lack professionalism and often came with various excuses pointing the finger at somebody else.  What we don't know, and probably never will, is what the motivation was behind that behaviour and whether it was down to incompetence or something else.  For example we don't know why various trade customers parted company with DJM and I'm sure we never will and we don't know what happened between him and the factory where a dispute arose - those events might or might not tell us a story.  But it's one we'll never read.

 

All we can do is wait for the Statement of Affairs and see what, if anything, it adds.

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1 hour ago, BR Blue said:

I remain to be convinced.

Entirely understandable, especially if you have lost money. But incompetence in business matters, not least the exponential expansion of DJM, seems a pretty plausible reason. 

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And now, time for a musical interlude...

 

 

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There are a few posts and certainly the reclaiming under S.75 that crowdfunders are getting some money back.

 

I have only come across a S.75 Chargeback once and thankfully it wasn't us. The circumstances were a lesson to us all at the time. The Bank/Card Provider then claimed the money back from that shop. Very easy to do as they just take it from your Bank.

 

From those who understand these things, (Woodenhead?) Will those institutions then at least try to reclaim the monies from DJM? Putting the Banks at the forefront of Creditors possibly?

Edited by Widnes Model Centre
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8 hours ago, TEAMYAKIMA said:

As I have said before, I have absolutely no axe to grind on the subject of DJM, but it appears to me that there are very good reasons why companies like Dapol, Bachmann, Hornby etc employ specialists like researchers, designers, accountants, project managers, marketing teams, logistics experts - and thereby have increased costs - and that is that one person is very unlikely to be sufficiently expert in all those fields to do everything themselves.

 

And if such a person does exist they could make themselves a lot more money in more profitable areas than model railways!

 

It is very noticeable.

You used to also easily see the difference in "customer interaction" between Dave Jones and the other model manufacturers, in terms of web presence.  

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5 hours ago, Widnes Model Centre said:

 

There are a few posts and certainly the reclaiming under S.75 that crowdfunders are getting some money back.

 

I have only come across a S.75 Chargeback once and thankfully it wasn't us. The circumstances were a lesson to us all at the time. The Bank/Card Provider then claimed the money back from that shop. Very easy to do as they just take it from your Bank.

 

From those who understand these things, (Woodenhead?) Will those institutions then at least try to reclaim the monies from DJM? Putting the Banks at the forefront of Creditors possibly?

I would think it all comes down to exposure and cost, for what the banks would get back as a creditor versus the cost of recovering the monies.  Given the true size of DJM against other sorts of institutions then for most credit card companies the exposure is likely to be just a few thousand pounds at most, it is probably easier just to write it off.

 

In budgeting terms I would imagine most banks make annual provisions each year for such events and probably an airline or holiday operator to fail.

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19 hours ago, Amand said:

And they all (APT crowdfunders) lived happily ever after. The End. Said no one ever.

I was an APT crowdfunder and am still living happily, although with a little less in the current account than before. Hey ho, it was disposable income and is now duly disposed of. 

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Just to confirm unfortunately DJ Models will longer be attending our show having attended for a number of years. Unusually there have been a few late call offs this year mostly due to personal reasons.  Fortunately we have managed to get some replacements. 

 

I apologise for our website list being out of date, the most up-to-date list is actually available on RMWEB.

 

 

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4 hours ago, Waverley47708 said:

Just to confirm unfortunately DJ Models will longer be attending our show having attended for a number of years. Unusually there have been a few late call offs this year mostly due to personal reasons.  Fortunately we have managed to get some replacements. 

 

I apologise for our website list being out of date, the most up-to-date list is actually available on RMWEB.

 

A pic of an N Gauge 92 as well !!!!  how apt .   You can see the CJM 92s on Law.

Regards Arran

 

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