Suppliers
Frequently asked questions for suppliers
Am I required to continue providing services or supplies?
The Joint Administrators may request that you continue to supply goods and services to the Company during the Administration and will provide assurance that these goods and services will be paid for.
Goods and services ordered by the Joint Administrators or their authorised representatives will be paid for by the Administration estate.
All purchases will be ordered using a new sequence of purchase order forms. This will be signed by one of the authorised signatories whose names and signatures are shown on the supplier's letter, a copy of which will be made available to you.
I am owed money. What notification will I receive?
The Joint Administrators will issue a letter to all known creditors of the Company within 7 days of the Joint Administrators’ appointment. This letter will include details for creditors on how to make a claim in the Administration.
The Joint Administrators’ will also publish their proposals for achieving the purpose of administration to all known members and creditors via this case website (see documents to download section) within 8 weeks of the administration appointment. This report will outline steps taken by the Joint Administrators since their appointment, detailed information on the proposed strategy for the administration going forwards, including estimated returns for the various classes of creditor.
The Joint 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 Joint Administrators’ appointment rank as an unsecured claim in the Administration.
At this early stage, we do not know whether there will be funds available to make a distribution to unsecured creditors as this will depend on the final level of asset realisations and level of preferential claims received.
Once we have more information on dividend prospects, we will update the creditor FAQs on our website and if we think there will be funds available to pay a dividend to unsecured creditors in due course, we will write to all creditors to set out how to make a claim. You do not need to take any action at this stage with regard to submitting a claim to the Joint Administrators.
The Joint Administrators will include an update of dividend prospects and, if possible, a timeframe in their proposals and reports.
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.
What further information on the Administration will I receive?
The Joint Administrators will publish a report via the case website to all known creditors and members of the Company within 8 weeks of the appointment. This report is known as the Joint Administrators’ proposals and will outline steps taken by the Joint Administrators to date and the strategy going forwards.
The Joint Administrators are also required to provide a written update on the administration to all known creditors every six months. This report will be published to the case website within one month of every six month anniversary or earlier if the administration ends.
For all other supplier queries, please email: uk_artisfinance_suppliers@pwc.com
