Maelstrom Games Ltd. has ceased trading and will enter liquidation at some point over the next few months.
A creditor of Maelstrom Games Ltd., Wayland Games Ltd., issued a Statutory Demand under section 123(1)(a) or 221(1)(a) of the Insolvency Act, 1986 on the 17th of October, 2012 for �99,773.61 plus costs of issuing and serving the demand.
This debt was purchased from Simple Miniature Games by Wayland Games Ltd on the 1st of October, 2012 and payment of this debt was demanded in full by Wayland Games after seven days had elapsed. Unfortunately, Maelstrom Games Ltd. could not pay Wayland Games Ltd. this debt in full within those seven days.
Previous to the debt purchase, Maelstrom Games Ltd. was servicing the debt owed to Simple Miniature Games at the rate of �500 per working day, claimed by the creditor when convenient for him by charging a credit card owned by Maelstrom Games Ltd., which had been occurring since mid-June and continued to late September, the last payment being taken on the 25th. Maelstrom Games Ltd. did not cancel these payments and were not aware that this debt was being transferred.
Maelstrom Games Ltd. offered to pay the debt purchased by Wayland Games Ltd. in the same manner as it had paid Simple Miniature Games, but this was not taken up by Wayland Games Ltd.
Maelstrom Games Ltd. can only apologise to those customers whose orders have not been fulfilled as it is now impossible for Maelstrom Games Ltd. to fulfil them, excepting those for Mierce Miniatures products (fulfilled by Mierce Miniatures in November) and Battlefront Miniatures products (fulfilled by Maelstrom Games in partnership with Battlefront Miniatures and Maunsfeld Gaming in November), all of which will be sent by Maelstrom Games Ltd. Other customer orders for certain ranges may be fulfilled in the future and any customers whose orders can be fulfilled will be contacted by Maelstrom Games in due course.
All creditors will be issued the relevant notices by the assigned Insolvency Practitioner when Maelstrom Games Ltd. enters liquidation.
So now it has finally gone official. But of course Maelstrom tries to play the victim. Just like when they breached Battlefronts terms last year. Wayland also confirmed over on Dakka that the transfer of Maelstroms debt wasn't done in order to put Maelstrom out of business (although I guess it was a nice synergy) and also that the repayments being done in an orderly fashion is a fabrication.
Anyhow... I'm too tired to write anymore about this mess. Hopefully you who has outstanding orders with Maelstrom can get this solved via Paypal or your bank.