Liquidator's warning over bridal shop collapse

10:45am Saturday 5th July 2008

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SOME brides may not see a penny of the thousands of pounds they have already paid out for their gowns, an accountant has warned.

Nick Peat, of Peat's insolvency practitioners in Poole, Dorset, is convening a meeting of creditors of Arvella Bridal at his offices on July 14, when he is expected to be appointed as official liquidator.

Mr Peat had a meeting with Lisa Clarkson, owner of the bankrupt Bradford bridal shop, on Monday afternoon and said it seemed to him like a genuine hard luck story.

But he added: "If people paid for their dresses by credit card then they should be covered by insurance.

"However if they paid by cash or debit card they are unsecured creditors and may only get a few pence in the pound back."

There may even be some cases where even if brides have paid for their dress and it is ready for them to wear, the designer would still be able to retain them if they are owed money.

Mr Peat said he had the remaining stock from the premises of Arvella Bridal in Silver Street, Bradford, removed from the shop on Tuesday.

"It's our job to get the best possible price for what's left of the business," he said.

"We can't give any assurance to anyone. There is an almighty mess to sort out."

Mr Peat said he was initially contacted by Mrs Clarkson last week when her business went bust and she ran out of money.

He has since had dozens of calls from anxious brides trying to find out how they can get their hands on their dresses before their wedding day.

Any customers or suppliers who are owed money by Arvella Bridal could potentially have a claim on the company's assets.

The creditors meeting will take place at 10.30am on July 14 at Peat's, Discovery Court, Wallisdown Road, Poole, Dorset.