A rival Christmas hamper company has been quick to act after the liquidation of Mrs Christmas this morning, offering customers the chance to switch companies and keep their savings balance intact.
Chrisco has announced that any Mrs Christmas customer wishing to switch to Chrisco will receive a credit for the amount they have already saved towards this year’s hamper.
In return, customers have to pick a hamper of similar value in the Chrisco catalogue, and keep up their payments.
“We are very concerned for all customers of Mrs Christmas and sympathise with them at the difficult situation they have been placed in as a result of the failure of the Mrs Christmas business,” says Chrisco Group chief executive Richard Bradley.
Mrs Christmas, which has about 5000 customers, was placed into liquidation this morning by a High Court associate judge. It is understood to owe more than $5 million to a long list of creditors.
This afternoon, Mrs Christmas has released a statement saying liquidators are “very confident” the business will be sold within a week, with three parties currently interested in buying the company.
“Based on indications of interest, the liquidators feel confident that all customer orders will be honoured and anyone who has an account with Mrs Christmas will have any payments credited to their new account.”
Damien Grant and Steven Khov of Waterstone Insolvency are handling the liquidation.
Comments
Value?
Looks like a smart move of Chrisco. If they can take over a great number of Mrs Christmas customers, the value of Mrs Christams goes down. If Chrisco is one of the potential buyers, they might buy it for a song. If I was one of the potential buyers, and not Chrisco, I would step out. Customers that do not switch to Chrisco might loose of the business does not get sold. The only one that gains here, as usual, is the liquidator.
the interesting thing...
is that the liquidator doesn't say how much money is in the coffers... perhaps there is none, or perhaps he doesn't know just yet? If Mrs Christmas couldn't pay their courier company for delivering last years hampers, then what hope anyone else? What turkeys were running this company anyway - why let the High Court tip you? They sound like they have been insolvent for a good long while ... hope someone brings a prosecution as if this isn't mismanagement, then what is?
mrs christmas
Gutted just saw it on the news i have a balance of around $400 towards Christmas its our Gas and Food Savings...dont want to goto Chriscos as they dont offer PaknSave Vouchers like Mrs Xmas does/did...what does this mean for my savings?only last week i rang Mrs Cgristmas to change my order they said nothing about any problems...have tried all christmas companys in the past and this one was by far the best for what they offered...well that will teach me i guess:(
Mrs Christmas Hampers
I have always had a xmas club with my local supermarket for food & also one at my bank forpresents,spending over the xmas period etc).Credit Union offers a xmas club that is locked from 1st Feb till 1st Dec so this allows me to save all year & have money for xmas. Good on you Credit Union. People helping people.
Mrs Xmas
I have little faith in that liquidator! I'll be taking Mr Bradley up on his offer
Mrs Christmas
I've been waiting for this situation to arise ever since that hamper company in the UK went belly up... I've seen Chrisco print that they are with a AAA rated bank, which must be Rabo-Bank (there's only 5 AAA banks in the world), but the thing is, it's still a bank! In situations like this, customers (unsecured creditors) are always going to be the last to be paid out (especially if the sum owed is anywhere near the $5mil that's been reported) in a liquidation. I praise the forethought of Hampsta for putting their customer's money in the Public Trust, which is government backed, ensuring all their savings are safe. In my mind, anyone who utilises a 'hamper scheme' needs to take a long hard look at where their money is being kept. Hampsta is the only one that ticks the boxes in my book.
Stop slagging chrisco
As a chrisco customer of over 5 years i am disgusted in the way people are slagging Chrisco, when they are the only company offering any support or hope of a christmas this year to the customers of Mrs Christmas in the event that another buyer is not found. Chrisco have always delivered me and my family a delightful christmas and being such a well established company there seems to be very little chance of them facing a similar situation to what Mrs Christmas is facing. In my view Hampsta does not have that much to offer and whose to say that they will still be operating in the years to come? I have no doubt that Chrisco will be around for a long time yet.
How many hampers does it
How many hampers does it take to build a $35 million house in New Zealand? And I see its up for sale! When is theopen home so we can take a look.
If hampsta are not around in
If hampsta are not around in years to come.. you will get ya money back. Well done on helping pay for the $35 million Chrisco house! Did you go to the house warming?
changing your look
i think its good there in liquadation its bad enough that they have known bout this problem for a while and havent told there customers about it and knowing that we are in recesition so good job and get a perm....
Variety
As Marcus Lush said on Live, if you want to have a'drunken BBQ' go with Dampsta. Me, I fancy other companies cos of variety.
Taken away from me
well ive been a customers for mrs christmas for many of years and it just kills me knowing they are goin into liquadation and i could lose all my money i put in dats all i have i dnt have a girlfreind im on the benefit and i live with my parents i dont think i can take this my life is over someone please help me..
Hampsta
It's hard for Hampsta to argue that they are a better bet than Chrisco. They've been around for 5 minutes and have yet to prove themselves at all. Chrisco have been going for yonks, so do you trust Johnny-come-lately or the tried and true?
FYI
Hampers alone didn't pay for the mansion. RB has many business interests and ventures, Chrisco being only a small part. Tall poppy, jealousy at it's worst if you ask me
Kriscoo
I'm 22, I've got 13 kiids to 4 different muthas. I have been pudding 20 bucks a month into Mr Krissmuss and now I will loose it all. Im guted man. Wot abut my cash that I wurked to haad to get from the dole?
other ventures...
...Like Hopscotch finance???
hampsta
hey guys use your brain - look at the structure of hampsta - it is the safest way - the money is locked down, and it has the backing of some great companies and directors - also you choose what you want, not some stupid hamper that is sold to you at full retail, and then purchased for a huge discount. just look at the price comparison on TV they advertise - that shows where they are at. it does not matter that the guy from Chrisco has big house - who cares, it is just that Hampsta has a better business model
Crampsta
Hampsta are a bunch of idiots. When you ring there, they can't answer any questions. They don't know anything about anything. They probably all wear jandals, cause they can't tie shoelaces. I reckon they all catch the special bus to work and eat each others snot at lunch times.
the best thing...
...from all this is that people have options. Open your eyes, read all the fine print (and they all have fine print), and do what works for you. There is no right or wrong answer here. NZ'ers are educated people, who are smart enough to make their own educated decisions about where they put their money when they want to think ahead about Christmas time. And good on all people who do think ahead...
lets think about hampsta
(1)you pay them to hold onto your money when you set up your account..
(2) you pay them if you want your money back
(3) you pay them if you lose your card.
(3) they get the interest on your money (I assume they do, someone has to)
(4) they give you a card you can use in two (yes just two) places
(5) you can only use this card for a limited window of time...
You'd be better off putting money under your mattress, you can spend that where you want, you can put your hand under your mattress when you want, and its costs nothing to put your hand under the bloody mattress when you chose to do this. No forms to fill either!
I have no idea why all these people think Hampsta is such a smart move: its actually prehistoric.
Chrisco
I have been a Chrisco customer for many years, and will keep on going for many more.
After saving all year with Chrisco for what me and my family choose, and then to get it delivered to my door, and to see the expressions on my kids faces is PRICELESS....With Hampsta's you pay all year, for what to still go and do your own shopping. They charge fee's to join, fee's if you don't order the following year.
Every year Christmas with Chrisco is stress free, shopping done, presents wrapped so there's more time for me to spend with my family.
Hamster Hamster yum yum
i would like to know why hampsta is called hampsta? when they dont even sell hampers and its illegal to have a pet hamster in nz(its not like we can have a roasted one for xmas dinner), and they are so anti hamper club,
Whats the real issue here?
the real issue here is that Mrs Christmas have gone into liquidation and there is now a high possibility that all their customers are facing the fact that there is a huge chance all their hard saved money has gone and Mrs Christmas will not be able to provide them with the christmas they had planned for.
So far from reading all the available articles i have come to the following conclusions:
Mrs Christmas will not be fullfilling their promise to deliver the christmas hampers their customers have saved for.
Hampsta have jumped on this as an opportunity to rub salt into the wounds of mrs christmas owners, investors, employees and customers alike as well as trying to drag Chrisco thru the mud for no good reason other than to try and make themselves look better, when in fact all Hampsta are doing are making themselves look pathetic and low , and lets be serious who would want to sign up with a company that uses such tactics?
And finally ..
Chrisco have never used slander to try to promote themselves, all they seem to have done is to offer hope to the thousands of Mrs Christmas customers in such a terrible time, and there is no way you could find fault in that? They have never once said that Mrs Christmas is a "bad company" they have only offered support, and for that i commend Richard Bradley and his team! After all isnt that what New Zealand is about?
People helping people in their time of need
Well said!
Good on you, Jenny, that really gets to the heart of the matter.
the real issue...
is that by moving to Chrisco, Mrs Christmas are jumping out of the frying pan and into the fire. We've seen one of these companies go bust, and there's every chance we'll see it again. Until people see that they're money isn't protected by anything more than a promise , hamper customers are leaving themselves wide open to gett burnt again, and again and again.
Sure it's offering Mrs Christmas customers hope, and it's nice noble gesture, but isn't it kind of like trying to fix a severed artery with a plaster? If you want your money to be safe, and you want to GUARANTEE there'll be something there at Christmas, there are better options than hamper schemes.
I would be worried
A major hamper company in the UK went bust this year as well, if I was a chrisco or hampsta customer I would be worried
hampsta has the money with
hampsta has the money with Public Trust. No need to worry! I would be worried if it was in RB's hands.
WW
I'm sooo upset. My order for weight watchers with Mrs C is not going to go through. I feel myself bloating out now.
Tall Poppy
Businesses go into liquidtaion every day. This is a non story. Hampsta it seems is being opportunistic to promote in my mind their own flawed busniness model. Chrisco do not have to do anything for the customers of a competitor. That they are is honourable and beyond any requirement. Further to that we should celebrate business success in NZ. If the founder of Chrisco chooses to build a $35m house then good on him. All that money went back into the NZ economy helping local trades. He has built a successful business employing many NZ's and Australians, I imagine pays a lot of tax and earns foreign exchange. All success to him. Our country needs more entrepreneurs to grow new business here and overseas, so we can drag this country out of it's appaling OECD rankings.
Directors
And what about the directors of Mrs Christmas? Surely this company has been trading while insolvent if its racked up multi million dollar bills since before christmas and been unable to pay them.
Interesting to not a few directors resigning over the last few months. What did they know? The phrases "rats", "sinking ship" come to mind.
And please - could the staff of Chrisco please stop putting anonymous comments up here? You are a joke!
If people want to save for christmas - go to a supermarket that has a christmas club. Way better value than any hamper company. To mangle a quote about lotteries - "Hamper companies are a heavy tax on the poor and uninformed"
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