Kimberley Kampers...all finished, all done ...

[tryagain]

That clarifies a lot of things in my head, I was finding it a bit hard to reconcile how a company that had built up a great reputation could get things so wrong like in the issues Vickie (quoted above)  and other bits I have read. All makes a bit more sense now if they had someone like that at the helm.

[gronk]

As I said before, all from a failed marriage.

Had only talked to Bruce Loxton once, but he seemed like a person who was passionate about the business.

Goes to show that one persons actions can have a huge difference to how a company runs.......which is also strange if he had lots of money invested when he "bought " the company ?

[Bigfish]

Sounds to me like mr Cannock should be sponsored by a Winchester...

[gronk]

Sounds to me like mr Cannock should be sponsored by a Winchester...

And with so much to lose himself, sounds like a strange person ??

[xcvator]

Maybe this has been a deliberate strategy if:-

As the new owner of the defunct business owns all the intellectual property,( trade name,branding etc)
all debts for the defunct company are paid out (creditors,staff etc )
and he himself is not declared bankrupt and has a reasonable bank balance behind him

He has made a great deal business wise ( ethically crap). He will be totally free to register a new company trading as "Kimberly Kampers" with all the good will/reputation that they had, have them made in China for 1/3 the cost of here, have a small factory and half a dozen trained monkeys to assemble them, then sell them here for a comparable price to the "real"(original ) KK's

Just the ramblings of a devious mind 

[Bird]

Just the ramblings of a twisted but probably correct old mind 

[GBC]

As I said before, all from a failed marriage.

Had only talked to Bruce Loxton once, but he seemed like a person who was passionate about the business.

Goes to show that one persons actions can have a huge difference to how a company runs.......which is also strange if he had lots of money invested when he "bought " the company ?

Staff members are still looking for entitlements from before the new partner came on board. It appears old mate was driving it into the ground for quite some time and is not blameless himself. Super etc hasn't been paid for years. No wonder there was quality issues.

[chester ver2.0]

Good old Aussie Quality Control.. I cant believe someone would put up with that much Shit going wrong. I'd never go camping again after 1/2 of that. ****in thing caught fire??? Defects by Qld Roads?? Not cleared up??
Surely that list is a piss take....

Not the right thing to say but i  went through all that and the thing caught fire i would have walked to the other side of the road had a beer, let it burn to the ground and make a fat insurance claim so i could start again

[tryagain]

Staff members are still looking for entitlements from before the new partner came on board. It appears old mate was driving it into the ground for quite some time and is not blameless himself. Super etc hasn't been paid for years. No wonder there was quality issues.

Pretty sure I read somewhere that part of the deal for the business being "bought out" by the new owner was him paying all outstanding staff entitlements. It doesn't excuse Bruce from not paying entitlements when due, but in theory, his return of 6c in the dollar would have been a lesser rate to allow for the outstanding entitlements to be paid for by the new owner.

There is also at least 3 companies that they have spoken about (manufacturing, IP and holding deposits) and I wouldn't be surprised if there was one that held any property as well, which probably means a pretty complex money trail behind the scenes that we will never really know about.

[WomblingFree]

not necessarily.
Depends on whether you bought a company as a 'going concern'  or just its assets.
Going concern means nothing changes, Assets only means you sack everyone and rehire them all again. That avoids its debt etc as you didn't buy that.

I once had thousands of shares in a TV company that was in the pooh. Bought a ton of them for about 2c ea thinking that no TV station ever goes broke and one day they'll probably come good.
Wrong, another company bought them out on an Assetts Only basis so I lost my princely investment and the TV company thrived.

[lukeycat]

It's sad that super hadnt been paid but f%.£ me, people who don't monitor something like their own super payments to ensure they are actually being paid are asking for trouble. Hopefully they get their entitlements sooner rather than later as the government system for worker entitlements can take up two twelve months depending on when the company went bust.

[Andosan]

Sad situation.

Even if half of what’s written here is true, it highlights the many risks and pitfalls of small business; not the least of which is having the right plans and structures in place for when things don’t go to plan.  Easy to ignore when things are good, but preparing for scenarios like the exit of an owner/partner or cash flow issues can make the difference between failing or not.

[lukeycat]

Saw that KK will be resurrected after someone unrelated to the original owners has made a deal with the liquidators will be interesting to see what comes of it.


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