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Company changing name & bank details repeatedly

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  • 13-10-2011 1:20pm
    #1
    gavney1
    Closed Accounts Posts: 537 ✭✭✭


    Hi All

    We have a security company that work for us.

    They've changed their name 4 times in the last year, and on 2 occassions their bank details.

    This is very out of the ordinary.

    Is it something to be concerned about?

    Thanks
    John


Comments

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    #2
    seamus
    Registered Users Posts: 68,317 ✭✭✭✭seamus


    I would be concerned. It's usually an attempt to escape revenue or creditors or both.

    However, it could also be a case of companies taking over each other. Have they told you why they changed their name?


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    #3
    thecommander
    Registered Users Posts: 2,537 ✭✭✭thecommander


    seamus wrote: »
    I would be concerned. It's usually an attempt to escape revenue or creditors or both.\

    If they work for his company then it doesn't really concern him if they're trying to escape creditors.

    I'd still ask them though, at least even for noseyness sake.


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    #4
    AndyJB
    Closed Accounts Posts: 177 ✭✭AndyJB


    thecommander wrote: »
    If they work for his company then it doesn't really concern him if they're trying to escape creditors.

    I'd still ask them though, at least even for noseyness sake.

    Hi,
    I would have some reservations about those guys working for me.

    Take the scenario where the OP has an issue with a patron or customer who’s accused wrongly by a security guard, lets say of theft. The patron then takes the OP and the security co to court and wins. Who carries 100% of the blame / compo payment if the security company is no longer in existence? I'm no legal expert, but I’d imagine it could well be the OP.

    As a previous poster has stated the name changes etc could be legit but the OP should check for his own peace of mind.

    Best of luck.


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    #5
    thelockshop
    Registered Users Posts: 8 ✭thelockshop


    Are the psa compliant ? have you seen a copy of their liscence ? I would contact www.psa.gov.ie if you thought it odd.


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    #6
    connundrum
    Registered Users Posts: 5,563 ✭✭✭connundrum


    If you're looking for a new security company... ;)


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    #7
    mikemac
    Closed Accounts Posts: 19,986 ✭✭✭✭mikemac


    Drop them OP, sounds dodgy
    They may shut down overnight and leave you without cover or maybe you'll be hit with a financial loss somehow. Avoid the risk

    No shortage of security companies out there, they'll be fighting for your business
    At least shop around and if you get a better deal take it to your current guys and tell them to match it


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    #8
    robinph
    Moderators, Science, Health & Environment Moderators, Sports Moderators Posts: 24,098 Mod ✭✭✭✭robinph


    AndyJB wrote: »
    Hi,
    I would have some reservations about those guys working for me.

    Take the scenario where the OP has an issue with a patron or customer who’s accused wrongly by a security guard, lets say of theft. The patron then takes the OP and the security co to court and wins. Who carries 100% of the blame / compo payment if the security company is no longer in existence? I'm no legal expert, but I’d imagine it could well be the OP.

    As a previous poster has stated the name changes etc could be legit but the OP should check for his own peace of mind.

    Best of luck.

    The company changing it's name will not affect things. Once the company number is the same then it is still the same company.


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    #9
    Kinetic^
    Closed Accounts Posts: 13,249 ✭✭✭✭Kinetic^


    thelockshop wrote: »
    Are the psa compliant ? have you seen a copy of their liscence ? I would contact www.psa.gov.ie if you thought it odd.

    This is the legislation I was thinking of, couldn't put my finger on it. It doesn't bode well imo. If it were me I'd drop them.


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    #10
    280special
    Registered Users Posts: 386 ✭✭280special


    thecommander wrote: »
    If they work for his company then it doesn't really concern him if they're trying to escape creditors.

    I'd still ask them though, at least even for noseyness sake.

    Well it could be his concern if he had to spend a load of time answering questions from, for instance, the Revenue comm as to payments he made to a defaulting company. Even worse if he sent money to the "new" company that was owed to the "old" company, he could in theory end up having to pay that money twice as the creditors could claim it as not paid.

    Get rid of them pronto !


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    #11
    gavney1
    Closed Accounts Posts: 537 ✭✭✭gavney1


    Hi Guys, thanks for the input.

    I called the owner of the company.

    Apparently what happened was a number of things

    1. They bought over another security company and adopted this companies name temporarily.
    2. They then changed name again to a new trading name....
    3. They then started using a factoring company, so their bank details changed to the factoring companies.
    4. After a few months, they no longer needed to use the factoring company, so their bank details have reverted to their own.
    5. They have now decided to start using their original company name again..

    All in all, when explained like that it sounds like a number of different factors.
    It sounds very messy, but I've checked out everything on CRO.ie and their current company seems fine, accounts filed etc...

    I don't think I need worry anyway. I think the factoring company usage just added complication to things when they were changing over.


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