Establishing if a Company is at risk of closure.

TopTec

Afternoon all.

My first post on the Mayo forum, I live just outside Ballina.

I am refurbing an old cottage. I am about to order new UPVc windows and doors, have had a very good quote from a national company, who have a pretty good reputation as far as this industry goes, and are very active in Mayo.

The terms for payment are 50% up front - 50% after delivery/fitting. It is a large sum of money to me - if I pay the 50%, and the company goes belly up prior to delivery, I am up the preverbial creek. I know there is an element of risk but is there any mechanism in Ireland for checking up on the financial solidity of any company?

Probably asking the impossible but would be interested in your views.

Cheers all.

TT.

bryaner

I'd check the CRO first to see if their records are in order..

finisklin

Maybe suggest a competitor has offered similar quote but want 25% up front, 25% half way through job and then 50% at end.

Alternatively post date cheques......

I reckon there has to be some lee way on this as these companies are not exactly flat out busy at the moment. Negotiate, negotiate & negotiate even more!

YouTookMyName

50% is fair enough. No one can afford to work in arrears anymore.

From the companys point of view what about if someone ordered 10000 worth of windows and doors but couldn't afford to pay them.

The company is out 10000 then.

Swings and roundabouts and all that.

TopTec wrote: »

I am refurbing an old cottage. I am about to order new UPVc windows and doors, have had a very good quote from a national company, who have a pretty good reputation as far as this industry goes, and are very active in Mayo.

If the company is a national company and still active chances are them going "belly up" are slim.

Since your are in Ballina did you price the crowd in Straide?

TopTec

Appreciate the replies. I had one quote from a fella from a company in Foxford. I think that is who you are referring to YouTook.

I don't necessarily have a problem with the price, although one always wants it cheaper. The quote is very competetive when compared with a similar job in the UK.

I have looked at doing a CRO, only costs 3 euro, or a credit check which costs £6 sterling. As ever it will never be accurate regarding the companies cash flow but has a rating calculated by the credit company. Am considering the credit check.

I actually choose this company after a reccomendation by someone in the village who had just had a big spread re-windowed.

TT

irishgeo

www.insolvenyjournal.ie keep an eye on this website

TopTec

Thanks for the link irishgeo, althought there needs to be a c inserted...

http://www.insolvencyjournal.ie/index.aspx

Now you have made me more twitchy!!!

If it appears on here I am gonna be very cold this winter.

BBBrrrrrrr

TT

Galen

Did you try Gradys in Charlestown, I still regularly see their trucks on the road.

TopTec

Galen wrote: »

Did you try Gradys in Charlestown.

Never heard of them - Have you used them?

TT

Fordpefect

I use a service called vision-net, you can get a credit rating on any company that is registered, you do have to subscribe, but if you pm me the name of the company I could check it for you and pm you back the info

Galen

http://www.gradyjoinery.com/

I worked for them until I was injured in a fall six years ago.

TopTec

Pm sent to you Fordpefect.

Thanks Galen - will bear them in mind.

TT

PogMoThoin

Can't believe you never heard of Gradys tbh, they're in the top 3 biggest window suppliers in the country and were as big as Munster 2 years ago, if not bigger, employed hundreds. They were supplying lots of small suppliers who have now gone under, but they themselves seem to have tightened their belt to ride the storm.

TopTec

PogMoThoin wrote: »

Can't believe you never heard of Gradys tbh,

You presume I am a local, which I am not - I'm a blow in, arriving November last year. I am one of the small minority to move into the country since the crash and am still feeling my way regarding local life, geography and the day to day tribulations. (I love it here though!)

You will have to bear with me when it comes to that type of knowledge I am afraid.

Thanks to Fordpefect for easing my mind somewhat. I have been burned before, in the UK, when I was awaiting delivery of a workshop - the company went under and I lost nearly 2 grand sterling. Once the taxman and all the major creditors did their stuff the 480 customers, who paid deposits and were awaiting delivery of their items, got precisely..... nothing.

TT

yop

O'Gradys have a good rep. Know a few lads working with them and they are very stable.

Also Dalgan windows in Kilmaine are another very reputable company and provide a quality product. My parents used them and they got good strong windows and doors.

ronaldo84

dalgan are in shrule co galway

Bob the Builder

If you want to pay extra to minimise risk, there's always the option of using an intermediary that you both know will pay and is reliable and you can lodge a bond with them. . A solicitor with a good reputation is always a good option (for me anyway).

spider guardian

ronaldo84 wrote: »

dalgan are in shrule co galway

Shrule Co. Galway??

Kristopherus

ronaldo84 wrote: »

dalgan are in shrule co galway

No, they are on the Mayo side of the river:)

Top Tec, I have dealt with all the companies listed. Add to that Carabine Joinery in Ballina, Wesport Windows & Doors in Westport,Senator windows in Castlebar and you have all the bigger outfits. I have had no problems with any of them re the quality of their work. Delivery targets were always a problem up to a year or two ago. Much easier to negotiate nowadays as well. Google all of them to get their contact details. Also have a look at the 07/09 Golden (Yellow) Pages. You will find pages of them there.

TopTec

Thanks Kristopherus. I have selected the company I will probably use. I decided on them from recommendations from local people and their overall reputation around here.

We still have to agree on a final price however. !

TT

CiniO

Maybe little OT, but seems strange to me that company might want 50% upfront.

My close family is building house in Poland, and any for any service (like windows, doors, etc) they would expect you to pay between 0% - and 15% upfront (depending on company). Not more.

Just a thought, that it's bit different here.

PogMoThoin

CiniO wrote: »

Maybe little OT, but seems strange to me that company might want 50% upfront.

My close family is building house in Poland, and any for any service (like windows, doors, etc) they would expect you to pay between 0% - and 15% upfront (depending on company). Not more.

Just a thought, that it's bit different here.

Companies in Poland haven't been stung like they have here, often not being paid for full estates. When the construction industry collapsed many sub-contractors went to the wall. There is no credit from any builders providers, they won't take the risk.