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Tuesday, 23 February 2016

Rearing a phoenix....... part 1 – World of Wine Ltd from the ashes of En Primeur Ltd.







'In Greek mythology, a phoenix or phenix (Greek: φοῖνιξ phoinix; Latin: phoenix, phœnix, fenix) is a long-lived bird that is cyclically regenerated or reborn. Associated with the sun, a phoenix obtains new life by arising from the ashes of its predecessor. According to some sources, the phoenix dies in a show of flames and combustion, although there are other sources that claim that the legendary bird dies and simply decomposes before being born again.[1]'

The Phoenix is a rather splendid bird – largely mythological but they can be reared successfully in the UK as this short series of posts may indicate.

To kick off here is a recent example from the UK wine trade where a company has died 'in a show of flames and combustion' but serendipitously its debts 'simply decompose' before a new one is born again.  

Goodbye – En Primeur Ltd! (05949641) ...... Hello – World of Wine Ltd! (09900486)
En Primeur Ltd was founded in September 2006 with Marco Paulo Correia (DOB: 29.9.1968) and Ana Sebastiao as the company secretary. En Primeur Ltd was based in Crawley with Ground Floor 1-7 Station Road Crawley West Sussex as its registered address and trading address: Suite 4, Kelvin House, Kelvin Way, Crawley RH10 9WE. As its company name implies, the sale of en primeur was a major focus. At the height of the demand for Bordeaux en primeur (2009/2010) Correia advertised his company's en primeur prices in January promising to hold them when the actual price posted by the châteaux several months later – surely a gamble fraught with difficulties.....

On 24th July 2014 En Primeur Ltd went into liquidation with debts that were originally estimated at 'low six figures' but which had climbed to unsecured claims of over £2.4 million by September 2015 when the liquidator, Nedim Aliyan of Abbott Fielding, filed his first annual report. News reports from July 2014 here and here  

The last annual return filed in 2013 showed En Primeur Ltd had share capital of £100 – 85 shares held by Marco Correia and 15 by Roberto Correia. Full details of En Primeur Ltd and its filing can be found on Companies House Beta service.          
Hello – World of Wine Ltd! (09900486) 
The World of Wine Ltd was incorporated on 3rd December 2015. Ana Ligia Sebastiao (DOB– March 1973), who was company secretary of En Primeur Ltd, is the sole director and sole shareholder. The company has a nominal share capital of £100 – with £100 unpaid. Its registered office is Ground Floor, 1/7 Station Road, Crawley, West Sussex, United Kingdom, RH10 1HT and trading address: Suite 4, Kelvin House, Kelvin Way, Crawley RH10 9WE.   

Although Marco Correia is not an officer of The World of Wine he is the registrant of the company website – registered on 11th November 2015. Buying en primeur features prominently on the World of Wines Ltd's website. 

Compare and contrast:
Keen readers may notice a certain resemblance between these two explanations of buying en primeur...... 

 En Primeur Ltd: En primeur wines 



Both explanations conclude with

'Buying en primeur allows you to make sure that special vintage you have your eye on doesn't get away.'

I'm not entirely sure that the many individuals listed as creditors of En Primeur Ltd would completely concur with the above ....  
 

From the terms and conditions of World of Wine Ltd:

  
En Primeur Sales 
In the unlikely event that we are unable to supply wines 
purchased on your behalf en primeur due to circumstances 
beyond our control, our liability will be 
limited to any money paid to us


It is not clear what happens if the reason why wines are not supplied are due to circumstances within the company's control eg failure to pay en primeur suppliers.... 

The terms and conditions for The World of Wine Ltd limit to right of return to three days from delivery. This is contrary to the 2013 Consumer Contracts legislation that gives 14 days

•• 

Doubtless business people should be given a second chance but equally potential clients have a right to know a company's background. I won't be buying from the World of Wine Ltd


5 comments:

  1. Edited comment from anon: Hi Jim, interesting to note that Ana Ligia Sebastiao is registered in the public domain at the same residential address as Marco Correia. She was also appointed Director of his first company, the imaginatively named 'Marco Wines Ltd' - dissolved in 2006. He was of course also listed as a Director. No accounts were filed.

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  2. To bring it to your attention, World Wines (Marco Correia) are now listing virtually all of the most popular Bordeaux wines fro the 2014 vintage (and select others) on Wine Searcher, every listing being at the lowest price on Wine Searcher!! This is the same marketing ploy previously used to attract buyers from the unsuspecting trade and - perhaps more worryingly - private individuals. How Mr Correia believes he is able to offer en primeur given his track record resulting in creditors owed over £1 million is beyond my comprehension. Somebody needs to stop this con artist before he strikes again!

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  3. Given the previous record you have to wonder how recently launched World Wines Ltd can undercut all other companies and whether indeed firm orders have been placed at these prices.

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  4. World Wine prices appear to have disappeared from wine-searcher this morning, although they were there yesterday.

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    Replies
    1. 'No longer has a price list on Wine-Searcher' from wine-searcher

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