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MarkE
05-10-2010, 07:56 AM
Some very bad news here people, thousands of Holiday makers will be set to lose their travel cash as CCE go into administration.

Taken directly from their website, ADMINISTRATION (http://www.crowncurrencyexchange.com/)

Updated: 4 October 2010

ADMINISTRATION

Paul Clark and Matt Bond, of MCR, together with Harold Sorksy and Stella Davis of SPW (UK) LLP were appointed Joint Administrators ("Administrators") of the Companies on 4 October 2010. Paul Clark and Matt Bond are licensed by the Insolvency Practitioners' Association, and Harold Sorsky and Stella Davis are licensed by the ACCA.

The affairs, business and property of the Companies are being managed by the Administrators, who act as agents of the Companies and without personal liability. The role of the Administrators is to deal with the business and assets of the insolvent estates.

CURRENT STATUS
The Companies operations are suspended whilst the Administrators assess the position.

The website will be updated on a regular basis.

In addition, the call centres will be reopened shortly and the operators will deal with your queries as far as possible. Please be advised that the message that the call centre operators provide to customers will be in accordance with the Joint Administrators.

Should you have any queries, please email crowncurrencyexchange@mcr.uk.com and the Administrators endeavour to respond to your query as soon as practicable. Please note that the Administrators understand that there are in excess of 13,000 customers and an immediate response will not be possible.

For and on behalf of
Crown Currency Exchange Limited
Crown Holdings (London) Limited


The Joint Administrators



You may get a swifter reply by calling MCR on 0207 487 7240.

simonwebb74
05-10-2010, 08:37 AM
That is bad news. Thats where I got all my travel money from last year!

Is anyone on here affected??

Sam
05-10-2010, 10:10 AM
Yep me. :cry1:

Should have had the money come yesterday for our trip this Sunday. :rolleyes2:

:thumbsdown: We ordered just over 3000 which of course has now gone. I'm not really holding out any hope in gettting it back, but we'll fill in the forms and hope for the best.

As you can imagine, I'm a bit devasted as we saved hard for this trip and didn't want to go into debt. Now we're have to put everything on a credit card and try to get it paid off as quick as we can. Looks like christmas is going to be a bit tight this year. :frown:

:shrug: Hey ho can't do anything about it now. Fortunately I have a fantastic husband who has done a great job in putting it all in perspective. It could be worse one of our children could be seriously ill. At the end some of you guys have had to go through worse things.

We're not going to let it affect our holiday.:wink:

Slowhand
05-10-2010, 10:43 AM
You sure have a great attitude to this terrible news Sam.
I would be hopping mad if it happened to me and I hope that you are still able to have a great holiday nevertheless.

arkvilla
05-10-2010, 11:27 AM
It was looking bad on Friday:-

http://wdisneysecrets.com/forums/general/15943-crown-currency-problems.html

I know some owners who have also lost money - thankfully we have never used them but lots of people do - so sad - people have saved hard for their sepnding money( or mortgage etc)

Sandra

Disneybumble
05-10-2010, 11:44 AM
I am so sorry Sam:hug2: As Slowhand said, I would be boiling. So well done to your hubby for putting a spin on it.

We used them last year no problem at all. It will be trusty M@S for me again.

arkvilla
05-10-2010, 11:58 AM
We use XE.com to transfer our money over to our US account but for cash we use Thomas Exchange Global - their rates are very good

Foreign Currency Exchange Rates List & Information, Foreign Currency Selling Rates Comparison (http://www.thomasexchangeglobal.co.uk/exchange1.php)

Sandra

Lisa1976
05-10-2010, 12:33 PM
Am so glad I have my Sun Trust bank account. I don't normally take alot of dollars in cash with me, probably a couple of hundred, the rest is sitting in my account waiting to be used when we get there.

I really do feel for the poor people caught up in this.

Isafari
05-10-2010, 02:33 PM
Sam :hug2:

daveann
05-10-2010, 02:47 PM
this is so sad for everyone concerned :(

Deb
06-10-2010, 06:15 AM
Oh Sam :hug2::hug2:

ukwdwnut
06-10-2010, 10:33 AM
I am so sorry Sam:hug2: As Slowhand said, I would be boiling. So well done to your hubby for putting a spin on it.

We used them last year no problem at all. It will be trusty M@S for me again.

thats the lowest rate siobhan, id look elsewhere at the moment tescos is a lot better for online purchaes

so sorry to hear you may lose 3k sam....isnt there anything your CC co can do if you purchased your $$$$ with one?

Claire
06-10-2010, 11:05 AM
thats the lowest rate siobhan, id look elsewhere at the moment tescos is a lot better for online purchaes

so sorry to hear you may lose 3k sam....isnt there anything your CC co can do if you purchased your $$$$ with one?

I think Crown Currency only take bankers draft Nut.

ukwdwnut
06-10-2010, 11:10 AM
I think Crown Currency only take bankers draft Nut.

paid mine with my CC for last trip never ever done a bankers draft claire :)

Claire
06-10-2010, 11:16 AM
paid mine with my CC for last trip never ever done a bankers draft claire :)

Maybe things have changed Nut. I know the long thread on another forums where many people are posting how much they've lost said the only way Crown would accept money was through bankers draft, leaving them totally unprotected. Crowns reasons for only accepting bankers drafts was to reduce fees allowing them to offer the best rates to their customers.

Claire
06-10-2010, 11:32 AM
Oops!

Correction - I meant bank transfer not bankers draft.

arkvilla
06-10-2010, 11:38 AM
Martin Lewis site Money Saving Expert have hired insolvency expert to help consumers, see link :-

MSE hires insolvency practitioner to help consumers over Crown Currency Exchange compensation - MoneySavingExpert News (http://www.moneysavingexpert.com/news/travel/2010/10/mse-hires-expert-over-crown-currency-exchange-compensation?utm_source=forum&utm_medium=sidebar&utm_campaign=box)

Sandra

ukwdwnut
06-10-2010, 01:01 PM
Oops!

Correction - I meant bank transfer not bankers draft.

still doesnt matter i still paid by card :lol:

Claire
06-10-2010, 01:13 PM
still doesnt matter i still paid by card :lol:

It mattered that I corrected myself as opposed to anything else I guess.

Tink
06-10-2010, 01:39 PM
Sam, your outlook on this very unpleasant circumstance is an inspiration! I don't know if I'd be able to look at the situation so brightly and not allow it to negatively affect my holiday! It's wonderful that you are not going to cancel, or to let this interfere. I so hope you are able to get your money back, even if you have to wait!

Yep, Claire. Correcting ourselves is what matters! Thank you for doing so. :yes: :hug2:

kazzaqld
07-10-2010, 01:03 AM
Sam that's a lot of money!!

You are very good to be so positive about it - I hope you have a good outcome in the end!