Consumers to be primary creditor in Administration

• Petition

Petition Action

Consumers to be primary creditor in Administration

Additional Information

It has become a trend in the current fiscal crisis for highstreet business to go into administration with little notice, leaving consumers who have purchased gift vouchers out of pocket - often to high value.
These gift vouchers are often sold until the day of administration and then rendered invalid - consumers then become the final creditor once administration is announced- leading to most unable to claim a return in their credit purchase.

I propose a change in the law to either:
1: The consumer becomes the primary creditor when a company goes into administration and all credit notes and vouchers are fulfilled or refunded before debt is paid to other outstanding creditors. OR
2: Business must notify their customers in print and online a minimum 30 days before vouchers are to be withdrawn in order for them to be satisfied.
I believe this will rebuild trust between the customer and the marketplace.

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