Zedbox Update

Zedbox

update 3rd May 2019


We are currently writing to all individual customers and creditors with an update on the position at Zedbox. There’s been a large amount of hearsay being spread on social media and we need to open and frank about the current situation.

Firstly, we’d like to apologise for the delays in our installation schedule – and in our recent customer service.  And we’d like to explain how we are rectifying the situation.

 

Installation Problems – and the resolutions

As you may be aware, Zedbox has encountered significant operational difficulties over the last few months. These difficulties have been caused by initial manufacturing and installation problems and, consequently, each Zedbox building has taken much longer to install than planned.

We took the decision to temporarily reduce production levels so that we can address the installation issues at design/factory stage. We will be maintaining production at a much slower rate for several more months, and plan to step back up production in the autumn.

 

Customer Service Issues – and the resolutions

Our Customer service has been lacking in recent weeks, as our small team lost several Project Managers at the same time, so it became “all hands on deck” for our Operations Team. We plan to improve our customer service straight away.

 

Restructuring

Due to these significant operational difficulties the company has struggled financially in the last few months - though always with the support of the bank - until last month. Professional advice has been taken by the management team throughout about the validity of continuing to trade.

Due to the problems with external funding, Zedbox Founder, Charlie Dalton, is currently trying to support Zedbox through further investment – via the sale of another company. However this sale is taking much longer than planned and following another delay in funding this week some Zedbox staff were laid off.

It is intended to introduce a CVA (Creditors Voluntary Arrangement) for Zedbox so that creditors, over time, may be repaid. We have been liaising with RSM accountants to establish the CVA as soon as possible.

 

Refunds

If our renewed installation schedule is unacceptable to any client then

Clients who have requested a refund, subject to the T&Cs, then will be able to claim through the CVA.

Similarly, clients who have paid by card will be able to action Section 75 with their card provider.

We will be providing full details of the Accountants who will be managing the CVA and will be in touch directly again with clients.

Moving forward

Following reinvestment the team will be immediately focussing on product development so that we can bring our installation schedule back up to speed as soon as possible.

We’re very very sorry for the delays, poor customer service and generating the degree of worry and upset for our clients, staff and  suppliers  

We hugely regret the current problems and are working hard to rectify the situation.

We will be refocussing on smooth production and a much-improved level of customer service.

Thank you for bearing with us.