The Official Network Thread

[dr727]

Am I having a nightmare? Is it April 1st? How can this be true, my beloved Network?

Thank for all that you were able to release--easily one of my favorite labels and one that I've ordered the most from over the years, from simple yet brilliant British Film releases to extravagant Anderson & ITC box sets.

And yes, wishing everyone involved all the best--hoping this didn't come as much of a shock to them as it did us and they had proper time to emotionally prepare (as much as one can in these situations).

...I just never imagined a world where reliable, trusty, good ol' Network would be gone.

[dr727]

Originally Posted by fatboyslim142

What is going to happen to the stock that is currently sitting in their warehouse?

According to what I skimmed, liquidation in the UK is like the USA in that any existing assets are used to pay remaining debts with creditors. This could mean the remaining stock is sold (at great reduction) to the highest bidder (i.e. the UK equivalent of Hamilton Books)--or if we're lucky, it could mean that an outside firm might be brought into to oversee a "fire sale" the remaining product to the public, similar to what happened with Twilight and their liquidation sale a few years ago.

[thebrid]

Their Crossroads, Streaming and Support sites are still up

[fatboyslim142]

Originally Posted by dr727

According to what I skimmed, liquidation in the UK is like the USA in that any existing assets are used to pay remaining debts with creditors. This could mean the remaining stock is sold (at great reduction) to the highest bidder (i.e. the UK equivalent of Hamilton Books)--or if we're lucky, it could mean that an outside firm might be brought into to oversee a "fire sale" the remaining product to the public, similar to what happened with Twilight and their liquidation sale a few years ago.

Thanks. Hopefully someone can bring Network back similar to Twilight Time in the US.

[drush9999]

Originally Posted by grahams76

Tantrum time. FFS! So The Sweeney is likely to never happen.

Was just thinking the same

[dr727]

Originally Posted by fatboyslim142

Thanks. Hopefully someone can bring Network back similar to Twilight Time in the US.

Agreed! Seeing as Network was founded/operated by ITC enthusiasts, ideally someone similarly passionate with the resources could buy the branding & assets and revive the company. (It's a long-shot but we can hope!)

[harry o]

What about pre orders I wonder ?

[dublinbluray108]

Ah no way. I am really sad to hear this about news.

If I had the money; I would have wanted to buy the complete series blu-ray box-sets of Stingray and Black Beauty in the near future. I'm devastated that this Network is not going to be here with us anymore.

[fatboyslim142]

Originally Posted by dr727

Agreed! Seeing as Network was founded/operated by ITC enthusiasts, ideally someone similarly passionate with the resources could buy the branding & assets and revive the company. (It's a long-shot but we can hope!)

Several could go in together & raise it from the dead so to speak.

I'm assuming stock in shops will still be sold in shops/online etc & any proceeds go to the creditors.

[pnaschy]

Really sad news I hope somehow a rescue happens.

[GlacierTuba]

Website domain has been suspended too. Doesn't look good.

That's a real shame. Hoping the folks affected by job losses will be OK.

Nothing on Companies House yet:

https://find-and-update.company-info...mpany/01476436

[dr727]

Confirmation from the official Gerry Anderson account . . .

Thank you for everything, @networktweets. Anderfans all over the world have a lot to be grateful for. Our thoughts are with everyone affected by the closure of Network Distributing.

It definitely feels real now. Such a bummer!

[saltysam]

A great shame, not a total surprise as their output wasn't as prolific recently, i picked up their OUT blu ray the other week. The fairly constant sales were no doubt a way to try and get funds in to keep going and obviously not sustainable long term.

[GreatUncleBaal]

Originally Posted by dr727

According to what I skimmed, liquidation in the UK is like the USA in that any existing assets are used to pay remaining debts with creditors. This could mean the remaining stock is sold (at great reduction) to the highest bidder (i.e. the UK equivalent of Hamilton Books)--or if we're lucky, it could mean that an outside firm might be brought into to oversee a "fire sale" the remaining product to the public, similar to what happened with Twilight and their liquidation sale a few years ago.

I think Zoom and a few other online stores around the time,
came into being because of these liquidation sales.

[darrellmaclaine]

Originally Posted by harry o

What about pre orders I wonder ?

If you paid by PayPal, put in a claim ASAP, you might just have a chance (though not guaranteed).

If you paid by card, you will have to formally register as a creditor and frankly even if you do it's a long shot you'll get your money back as you will be at the very back of the queue.

That's the harsh reality of UK liquidation process.

[darrellmaclaine]

Originally Posted by dr727

According to what I skimmed, liquidation in the UK is like the USA in that any existing assets are used to pay remaining debts with creditors. This could mean the remaining stock is sold (at great reduction) to the highest bidder (i.e. the UK equivalent of Hamilton Books)--or if we're lucky, it could mean that an outside firm might be brought into to oversee a "fire sale" the remaining product to the public, similar to what happened with Twilight and their liquidation sale a few years ago.

The biggest example of this to date is when Woolworths went bust in 2008, a large amount of 2|entertain DVD stock was seized from the warehouse by the liquidators, who then sold it via auction to MBL Group. Something similar will happen with Network's warehouse - a likely candidate for buying it up might be MusicMagpie.

[pnaschy]

Originally Posted by darrellmaclaine

If you paid by PayPal, put in a claim ASAP, you might just have a chance (though not guaranteed).

If you paid by card, you will have to formally register as a creditor and frankly even if you do it's a long shot you'll get your money back as you will be at the very back of the queue.

That's the harsh reality of UK liquidation process.

If you have paid by card you can claim back off your credit card company under section 75 of the Consumer Credit Act anything between £100 and £30,000.

[GlacierTuba]

Massive shame for Network, the late founder's legacy, boutique labels, physical media and all the staff that are now out of a job.

Hopefully a label out there might forge a rescue mission to buy up any licenses available or transfer ownership if it's economically salvageable / in a state worth reviving? Someone like Powerhouse / Limewood would be ideal. Or ITV or even Studio Canal?

Really gutted at their demise. One of the great boutiques.

[MillyD]

Me too, glad got Out and other limited editions so did my bit to keep in buisness, although must admit was partial to the sales too.

[BeyondBeyond]

Very saddened by this news. I was just browsing their website, tempted to purchase some random British TV from the 60's. Their Monty Python's Flying Circus and The Prisoner sets were exhaustive and loving treatments of the classic series. (And I was just wondering when they were going to release the Monty Python German episodes...guess I have my answer now.)