This seems to be based on a message on the company's website saying that they are currently experiencing technical problems with their online ordering system, as well as the fact that phone lines are constantly ringing out or giving an engaged tone. According to the message, while engineers are apparently working on a fix to the online ordering system, customers are being automatically redirected to the company's currency suppliers, 'International Currency Exchange'.
However, a statement on the 'International Currency Exchange' website says that they have not been formally notified of any formal insolvency proceedings in relation to 'Crown Currency Exchange', and adds that they cannot answer any enquiries about that company.
Customers of 'Travel Money Services' (travelmoneyservices.co.uk) are experiencing similar concerns and problems and are also being redirected to 'International Currency Exchange' .
No reliable information is currently available elsewhere, all we seem to have is this rumour and speculation across the web, which obviously must be extremely worrying for everyone waiting for currency orders to be fulfilled. Many customers are reporting the non-arrival of orders which they expected to be delivered yesterday and today.
Hopefully some positive news might be available very soon.
However, as both names are based at the same address in Cornwall, I have just verified with Devon & Cornwall Police that they are in fact compiling information in relation to the situation.
Anyone who has a currency order outstanding with either Crown Currency Exchange (crowncurrencyexchange.com) or Travel Money Services (travelmoneyservices.co.uk) is advised to contact Devon & Cornwall Police on 08452 777444.
Crown Holdings (London) Ltd
John Harvey House
They appear to be ?-
Crown Holdings (London) Ltd.
Crown Currency Exchange Ltd.
Direct Pawnbrokers Ltd.
Grants of Cornwall Ltd.
Mayfair & Grant Ltd.
Travel Money Card Ltd.
There's also something coming on BBC Radio Cornwall shortly.
Foreign exchange operator collapses
More than 13,000 holidaymakers have been left out of pocket following the collapse of currency exchange business Crown Currency Exchange.
Joint administrators Paul Clark and Matt Bond, partners at MCR, and Harold Sorsky and Stella Davis of SPW blamed the Cornish firm's collapse on a difficult trading environment during the past 12 months.
It confirmed that customers who had ordered currency from Crown would not be receiving their deliveries. The company's bank accounts have been frozen by Barclays.
"We believe that over 13,000 consumers have been directly affected and we will be in contact with them shortly to advise them on their individual status," said the administrators in a statement.
"I have no doubt that they will be understandably concerned about their own position and we recommend that they contact the company directly." Crown publishes an 0800 number on its website, but this was not working today.
Crown Currency Exchange was an independent foreign exchange operator specialising in providing foreign currency to individuals and businesses travelling overseas.
It was established five years ago and had processed hundreds of millions of pounds worth of foreign currency transactions over that period. Its services included cash, travellers cheques and money transfer facilities.
Operating from its base in Hayle, Cornwall, the company was established by husband and wife team Peter and Susan Benstead.
"We fully appreciate the difficult position in which many will now find themselves in - many in the build-up to holidays or business trips, as well as money transfers associated with second home purchases," added the administrators.
"However the administration process is in its early days and we cannot guarantee an early resolution for those looking for a quick return of their money."
With permission from Travelmole
Post edited for copyright reasons. Info available in posts just above
David HT Mod
David HT Mod
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