Companies including Microsoft and EMI demand return of stock from Deloitte
EUK administrator Deloitte is in hot water with entertainment suppliers, who are preparing legal action to to claw back millions of pounds of stock.
The Times reports that EUK still has CDs, DVDs and computer games worth tens of millions of pounds in its warehouses – and suppliers are battling to ensure Deloitte does not offload the stock cheaply.
Under the 'retention of title' rules, suppliers can claim back their own stock if it has not been paid for – and can also claim stock that has been paid for in lieu of debts.
Deloitte offered MCV a “no comment” on the matter when contacted, but has said it is in “constructive talks” with suppliers to 'realise value from EUK’s inventory'.
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MCV is the leading trade news and community site for all professionals working within the UK and international video games market. It reaches everyone from store manager to CEO, covering the entire industry. MCV is published by Intent Media, which specialises in entertainment, leisure and technology markets