I find this interesting how much misinformation there is on TikTok.
Firstly yes companies house will show if a company has filed for insolvency however it can take weeks to show. However the London Gazette is where any filings will show and it's 'live'. As far as I can see, there is no insolvency filings as yet.
Mallows if they had filed insolvency would no longer hold the title deeds of the stock and if the manufacturers had a clause on their invoices stating that ownership of the stock is not transferred until payment is received, Mallows would not be able to sell said stock nor transfer the title to Skinny Dip which is what I believe the young lady is saying. The stock is lawfully the manufacturers.
If as the manufacturers states is correct and they have invoice financing, then the invoice financing company are the ones that take on the risk. The debt is insured. Depending on the facility agreement, on £10k they were probably able to draw down upto £7k of the invoice value and the £3k is effectively the 'charge' for being able to have the money upfront. In that £3k will also be the cost of the debt insurance. The manufacturers should not have to pay anything back like they claim as the IF company will resolve. What probably has happened is until the insurance is paid (and it can't even be started until proof that insolvency has been filed) a hold will be put on the facility for the value they have drawn against other invoices from debtors they upload. However it will iron itself out in due course.
If I was the manufacturers, I would pay for a collection company to pick up the stock and sell it as 'insolvent stock' myself. Mallows are probably waiting for one of the companies which they owe money to (and there will be more!) to issue winding up proceedings to avoid the initial cost of centering into administration.
