HELP! Designer Vault going bankrupt and they owe me 3k!

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C

classybags4ever

Decade Club
Apr 13, 2015
601
2,376
#1
Just got the e-mail this morning. I consigned with them and the bag finally sold over black Friday after 6 months. I should have known something was up with them taking this long, but now with them going bankrupt, will I even get my money? They are not taking any e-mails and saying to contact their lawyer. I've sent him an e-mail and waiting.

So worried, this is a lot of money :(
 
#2
I have almost the exact same scenario!!! I consigned a Chanel bag which sold Thanksgiving weekend. I don't think we will ever get paid and the owners of Designer Vault will probably open under another name. This was my first experience selling to an online consigner and I don't think i'll ever do it again. It is such a sketchy business!!!!!!
 
#3
Sorry that happened. You'll have to find out where the bankruptcy is being filed and then file what's called a "proof of claim" showing what they owe you. Then when a plan is approved by the court, creditors (such as yourself) will be paid out according to a distribution scheme. It could be anywhere from as low to 1 cent on the dollar owed to as much as 100 cents on the dollar, depending on their liabilities and assets and whether any creditors were secured (had liens).
 
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#5
TheDeziRani said:
Ugh .. I'm out so much money! They were my go to because they had the best net pay and now I see why. I never had any issues with sales or checks being sent other than their lack of communication till the BIG BANG check (close to 5 digits) which was from the Thanksgiving sale. That I will never lay my hands now as I had planned. =*(

I emailed the lawyer as well and his reply:

I have been retained as the bankruptcy counsel for Designer Vault LLC.

The company intends on filing chapter 7 bankruptcy in the coming days.

Please provide for me your name and current mailing address so that you may be properly listed on the bankruptcy petition and receive notices from the Court.

Please note that I am not a disinterested party. I represent Designer Vault LLC. I do not represent you or your interests. I am not permitted to provide you legal advice. You may wish to secure the advice of your own legal counsel in this matter.

If you have an attorney, please forward this correspondence to that individual so that I may speak directly with him/her. Please also notify me if you have retained an attorney so that I can only speak to that person going forward.
http://thevclawgroup.com/ Vik Chaudhry
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So sorry! Yeah Chapter 7 means they will be liquidating rather than reorganizing. Hopefully you will get some sort of decent percentage back of what you are owed once the court sorts through everything.
 
#8
I got the email this morning too. :( They owe me $1600. I contacted the lawyer and asked if he'll be able to provide the docket number and the court that the bankruptcy will be filed in - haven't heard back yet. This is a pretty terrible thing to do in general but this kind of loss right before Christmas super sucks. I've been upset all day.
 
#13
TheDeziRani said:
Please share if/when he replies. :sad:

Yeah - pretty shady thing to do before the end of the year. I was all set to receive that $8200 [emoji4]nuts[emoji4] and put it to good use - pay off a card & start our backyard pool fund.

They also owe me my 12 items back! (bags + shoes + jewelry) <-- has anyone received a notification from FedEx saying a label was printed to send back items but no other progress has been made with that shipment?? :confused1:

I've been so filled with various emotions since I discovered they swindled us. I need to cry. I need to scream. I need to start selling some other material goods that I didn't consider selling anytime soon.

*Sigh*

What a way to end a pretty darn good year. :sad:
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Yep! Mine says label was created or info was sent to FedEx. Estimate delivery time 12/19 but nothing other than that.

Shady, shady...they better get this **** figured out!
 
#15
OMG. i am SO so sorry. :( This is so horrible.

Here's the response I got this morning. I'll update here again when I get more details.

Someone also mentioned on a FB post I made that we may be able to write off the loses on our taxes. I need to look into this.

I woke up still so upset this morning. I, like you, had plans for that money and I feel so taken advantage of and betrayed by a company I trusted. I wish they would make it right with as many people as they can. :(
 

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