Suppliers

What has happened?

Despite strong growth in auctions this year and new partnerships in publications, the Companies were unable to find a solution to historical liabilities including pensions, legacy acquisitions, leases and debt. Several options were explored to resolve these liabilities, however satisfactory solutions were not found. An unsuccessful solvent sale process was undertaken which led to the decision that the Companies would be required to enter Administration prior to a business and assets sale. 

Edward Williams, Timothy Higgins and Peter Dickens of PwC have been appointed as Joint Administrators of Stanley Gibbons Limited and AHB Realisations Limited (formerly A.H.Baldwin & Sons Limited) (“the Companies”) on 22 December 2023. 

Am I required to continue providing service or supplies?

The Administrators may request that you continue to supply goods and services to the Companies during the administration and will provide assurance that these goods and services will be paid for. 

I am owed money. What notification will I receive?

The Administrators will issue a letter to all known creditors of the Companies within 7 days of the Administrators’ appointment. This letter will include details for creditors on how to make a claim in the administration. The Administrators’ will also publish their proposals for achieving the purpose of administration to all known members and creditors via this case website within 7 days of the administration appointment. This report will outline steps taken by the Administrators since their appointment, detailed information on the sale of part of the Companies business and details of the Administrators’ proposed strategy for the administration going forwards, including estimated returns for the various classes of creditor.

The Administrators are also required to provide a written update on the administration to all known creditors every six months. This report will be published directly to the case website within one month of every six month anniversary

When will I get paid?

Payment for goods and services provided prior to the date of appointment will not be paid for as an expense of the administration estate. All outstanding amounts at the date of the Administrators’ appointment rank as an unsecured claim in the administration. You can submit a claim into the estate for the amount you were owed prior to their appointment. The initial letter all known creditors will receive will contain details on how to do this. If there are funds available, you may receive a dividend payment in due course. However, the administration process is complex and it takes time to assess the company’ position and provide an estimate of the value or timing for reviewing claims and making a distribution. The Administrators will include an update of dividend prospects and, if possible, a timeframe in their proposals and reports. Please complete and return a claim form that will be sent to you to register your claim. If your claim includes VAT, you may be able to obtain VAT bad debt relief six months after your supply.

Will you refund the costs incurred in preparing a claim? 

We are unable to refund the costs in preparing a claim. Consequently, we cannot refund any expenses incurred in obtaining information necessary to make a claim.