Management buyout at Stockshifters surplus auctions
Stockshifters, the liquidations, clearance stock and surplus auction company have just had a management buy out and the Stockshifters platform will now be operated by a new company Recoverex Ltd, which has been created and backed by the E-trader management team.
Stockshifters first went live in 2009 providing a platform for independent retailers to buy branded surplus stock from a large range of the UK’s largest retailers and wholesalers. Since this time they have grown to more than 50,000 customers.
Harvey Sinclair, CEO of Stockshifters told us “The whole team are highly excited by this change which brings new opportunities for the future. Our focus and priority continues to be on you, the community we have been building since the start, and satisfying your needs for great products at low prices with great margins.“.
If you are looking for new sources of stock then Stockshifters could well be worth looking at.
Well E-trader LTD went into administration Jan 2012 – stockshifters ripped off over £1.3 Million of SMB in the UK in the process. Its a sham they have now set up recoverex – stay clear
E-trader ltd has gone into administration
If it helps anyone, I bought a pallet of stock on stockshifters last week, everything delivered ok. I have also spoken to their sales team this morning and bid for more stock. Looks like the original story stacks up.
Hi D Hurst, Out of curiosity how did you come up with this figure? Companies do this all the time, so not a sham otherwise I think HMRC would have something to say. I recall USC in the UK doing something similar and look at Peacocks. In fact many retailers do the same.
Along with many other suppliers I source stock from, I do buy stock from stockshifters on a fairly regular basis, they certainly aren’t a sham.
While I would also be the first to point out a poor service to help other sellers, I have to admit I have always found stockshifters to be a very helpful and honest company. As a seller on ebay I would however say watch out for RRP’s from the sellers on stockshifters, can be rather inflated at times, just do your research, but I guess that is common sense.
e-trader went into administration and wrote off various debts for the same management to re-purchase the stockshifters and expect to go about business like this is a new launch …. hardly the same as Peacocks going into administration and being rescued by an investor.
The worry is that whilst its not illegal (hence the reason HMRC are fine about it) its not exactly ‘ethical’ and the fact that this management team are happy to try and pull the wool over everyones eyes with this ‘exciting change’ shows the lack of respect they have for everyone/anyone that they will do/have done business with.
You will find good product listed from time to time but being an auction site you need to be able to feel that you can trust these people and I for one dont.
Use/Dont Use… entirely up to you but I’d suggest caution.
Interesting debate isn’t it. If any business can’t manage it’s debts and a re-structure isn’t possible, then it will go into administration. Not nice for anyone involved. Happening all too often at present. I read 14 retailers are being closed down every day at the moment.
Seems to generate quite a passionate response, and what these forums are for. Always makes me question the authenticity of the remarks sometimes, seems a rather competitive space, lots of sniping going on. As a buyer, the more of these websites the better surely? I see UK Liquidation closed down. Does anyone know what happened there?
Never bought from stockshifters, bid on some items, but wasn’t the highest bidder. Can’t see the problem with them.
I see they use paypal? Certainly makes me feel secure and heard no news of anyone losing their money? Shipping quotes seemed a little expensive on the items I was interested in, surely would be better of if sellers could ship directly to me?
I have bought from buyforce, I recommend them. 1 purchase wasn’t as described, but got a full refund. I think that’s the beauty of these sites, I doubt they will get everything right but buyforce refunded me straight away and I felt my money was save.
I have noticed a few other similar sites popping up. If I can use paypal, I feel my money is save, I can buy stock and make a profit then I am happy, whether it be from stockshifters, buyforce, britcom, wamdirect or any other discoiunt website.