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Thread: U.K. Facility Liquidation

  1. #1
    SFMatt is offline Senior Member
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    Default U.K. Facility Liquidation

    Hi all,

    I've been following the incredible procession of events surrounding the closure and subsequent liquidation of Guardian Self-Storage across the pond. Some tenants didn't even know what was going on until they read about it in the paper, and when they arrived to claim their stuff, they found it piled in heaps on the property, sequestered by the liquidators, and even being sold on ebay.

    The police are late in getting involved, but this seems like a belligerent denial of a tenant's basic customer rights. How do bankruptcy/liquidation laws differ here in the U.S., and what sort of rules do we have that protect tenants from this kind of absolute mayhem? Has anyone here experienced a bankruptcy, and how did you handle the contents of your units?

    Also, how does tenant insurance come into play here?

  2. #2
    Madman's Avatar
    Madman is offline Moderator
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    Default Re: U.K. Facility Liquidation

    There are a lot of differences between what is going on in the UK and how things operate in the US and North America.

    Fortunately, these situations are extremely rare and statiscally as likely as getting hit twice by lightning (no stats to back that up, LOL). This is why a good reputable firm is important in ANY service you seek be it storage or dropping your car off for service work. I have heard of this happening more often in 'Moving and Storage' businesses. The last time I heard about this in storage was in Honolulu a year or two ago and that was resolved with the tenants.

    In this case, the landlord appears to be of questionable morals and I can fully support why the tenants would be upset.

    Terrible to see but very very very very far from even close to being the norm in the industry.
    Gina6k and SFMatt like this.

  3. #3
    SFMatt is offline Senior Member
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    Default Re: U.K. Facility Liquidation

    I figured this wasn't the norm, otherwise the storage industry wouldn't be as successful as it is in the U.S. I was more wondering what the established rules are, via tenant insurance, legislation, bankruptcy policies, etc. that prevent stuff like this from normally occuring.

    And with a note to lightning statistics, I believe the likelihood of two lightning strikes to a person is around .00000004%. Also going to point everyone to one of my favorite websites on the matter, StruckByLightning.org.

  4. #4
    Madman's Avatar
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    Default Re: U.K. Facility Liquidation

    Quote Originally Posted by SFMatt View Post
    I figured this wasn't the norm, otherwise the storage industry wouldn't be as successful as it is in the U.S. I was more wondering what the established rules are, via tenant insurance, legislation, bankruptcy policies, etc. that prevent stuff like this from normally occuring.

    And with a note to lightning statistics, I believe the likelihood of two lightning strikes to a person is around .00000004%. Also going to point everyone to one of my favorite websites on the matter, StruckByLightning.org.
    Wow - there's a website for everything!

 

 

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