No Phone 4U (or your money back)

It has been reported that 130 odd customers of the collapsed mobile phone chain Phones 4U who paid deposits for a new iPhone 6 prior to the failure will not get their money returned to them and will rank as unsecured creditors of the company.

This is despite best practice suggesting that customer deposits should be kept in a separate “trust” bank account and the fact that the company apparently had £100m in the bank when the Administrators were appointed.

If the deposits were over £100 and were paid by credit card then these customers may get redress from the credit card companies, if not, bad luck, the money has gone.

Surely a case for a goodwill gesture, after all the total deposits lost are probably less than a week’s interest on the £100m (which is about £19,250).

Back to all news
Get in touch
Thank you for your getting in touch with us, a member of our team will be in touch shortly.
Something went wrong while submitting the form, please get in touch with us using the phone number above to deal with your enquiry.
Operating nationwide throughout the UK

At Frost Group, we want to make things as easy as possible for you. That is why, if you can’t come to us, we’ll come to you. We operate face to face, nationwide meetings, wherever is most convenient for you.

Croydon

Airport House
Purley Way
Croydon CR0 0XZ

bromley

Regus, One Elmfield Park
Bromley
BR1 1LU

London

86-90 Paul Street
London
EC2A 4NE

Leicestershire

Court House, Old Police Station South Street, Ashby de la Zouch
LE65 1BR

Proud members of

Authorised by

Frost Group Limited is authorised by the Financial Conduct Authority. Authorisation number 669247.