Touch of Modern LLC stole several Wryst watches
Stop buying from Touchofmodern.com now!
The Californian company Touch of Modern LLC (touchofmodern.com) is stealing goods and selling them on touchofmodern.com. This makes them thieves, and their activities are illegal.
TOUCH OF MODERN ARE STEALING GOODS FROM THEIR VENDORS
Stop shopping with Touch of Modern unless you want to buy goods illegally on the internet. The company is not paying vendors invoices, so the goods they sell are stolen.
For many years, everything was going well, and we had good relations with Touch of Modern LLC. Unfortunately, all this ended when the company “Touch of Modern’s assets were liquidated by MCA Financial Group (MCA).”
Our contact Ian Anderson (ian.anderson@touchofmodern.com), in charge of watch purchases, launched our last sale in March on the discount boutique. An invoice was sent after that, and Touch of Modern customers received their Wryst watches.
The payment terms were 30 days, which was the first time we accepted this condition. In the past, we were always paid before shipping the goods.
After several emails to all our contacts, touch of modern stopped entirely communicating with us.
Something must have gone wrong
Then, on 23rd June we received this email from Morris Aaron, Directing Manager at MCA Brokerage Services, LLC:
“Dear Vendor:
There has been an important development at Touch of Modern that is strengthening the company’s financial position and supporting its long-term growth.
Touch of Modern’s assets were liquidated by MCA Financial Group (MCA) after Touch of Modern entered into an Assignment for the Benefit of Creditors (ABC) with MCA. These assets were acquired, and will be operated, by a subsidiary of CSC Generation Holdings, Inc, (CSC) named Touch of Modern, LLC (ToMo), Tax ID: 88-2335153.
I would like to note a few important points:
- ToMo is alive and well. Though ToMo has been restructured, we are very much open for business, and will be paying suppliers and vendors in full for goods and services after the acquisition date.
- ToMo will pay suppliers and vendors in full for goods and services after May 27. Due to the nature of the acquisition and the ABC process, ToMo is not responsible for any of Touch of Modern’s liabilities such as debts and outstanding vendor payments preceding the acquisition.
You may have recently received an email from MCA illustrating the latest update regarding the status of our company Touch of Modern. If you did not receive the email from MCA, please refer to the message at the bottom of this email where the original email text is copied for your reference.
Today’s news is the next step in a transformation that will enable us to focus on a brighter future. We have transitioned our business model to offer a better and more compelling shopping experience for our customers and drive value for all our business partners. We have also taken meaningful steps to strengthen our service platform and improve ToMo’s unique value proposition. Our plan is working. We are seeing encouraging results in customer engagement and retention.
ToMo is joining CSC’s portfolio of brands, which includes Sur La Table, One Kings Lane, Home Consignment Center, and Lakeside.com. CSC has successfully turned around nearly every company it has acquired and is committed to supporting ToMo’s growth and success. ToMo is committed to paying vendors on time and 30 days faster than your current payment terms while we earn back your trust. Furthermore, we would love to discuss getting your products listed with other CSC brands.
Please note that ToMo is not legally responsible for satisfying claims dating prior to the acquisition. Any claims arising prior to this date should be submitted in accordance with the instructions provided by MCA in its email.
Thanks to the acquisition, we now have ample cash to pay suppliers and vendors in full for goods and services provided after May 27. Invoices for goods and services provided after May 27, should be submitted through the typical accounts payable channels and payments will be processed in accordance with payment terms. We fully expect to meet our business obligations. We are investing in our business, and we value our business partners. We look forward to maintaining our partnership for years to come and helping you achieve your business objectives.
We hope we can continue our relationship as before with the following changes:
A. ToMo will pay on time for invoices with invoice dates on or after May 28, 30 days faster than current payment terms; and
B. Your company will mark invoices with invoice dates prior to May 28, as not collectable.
We thank you for the trust you have placed in ToMo. We are committed to improving and hope that with new ownership dedicated to supporting ToMo’s future growth, better terms, and on-time payments, we will be able to continue a partnership with you.
Sincerely,
Julie
Please also see below personal notes from the founder of Touch of Modern and the founder of CSC Generation Holdings, Inc.
A note from Jerry: Founder & CEO of Touch of Modern:
My Dear Friend,
Thank you for your trust in me over the past years, and for working with us to create value together for countless customers. I consider myself fortunate to know you and to have worked with you over these past years.
Retail is a tough business and balancing profitability while satisfying customers’ expectations within our new business model has proven more difficult than anticipated. I am sorry that we ended up in a position where we are unable to pay for goods and services provided prior to May 28.
I know you have personally been on this journey with us over the last 10 years. Through hours of deliberation, research, discussion, and worry I determined that the best way to serve Touch of Modern’s vendors, customers and employees is to partner with CSC Generation Holdings, Inc. This partnership allows us to better support the growth of your business and ToMo, and we believe there is significant upside as we move into this new chapter. Thank you for your support through this transition and I look forward to many years of growth together.
Sincerely,
Jerry
A note from Justin: Founder and CEO of CSC (parent company of Touch of Modern, LLC):
Dear New Friend:
Touch of Modern is a great business with a fantastic product offering and we are ecstatic to be able to help right size the business and fuel the next stage of its growth. We have analyzed the company and are confident that with our industry knowledge, operational expertise, tech-enabled services, and scale savings, ToMo will be profitable within the year.
CSC Generation Holdings, Inc. has successfully turned around nearly every company it has acquired, and we are committed to supporting ToMo’s growth and success. Starting on May 28, we will pay vendors on time and pay them 30 days faster than their current payment terms while we earn back your trust. Furthermore, we would love to discuss getting your products listed with our other brands.
We hope that with new ownership dedicated to supporting ToMo’s future growth, better terms, and on-time payments, we will be able to not just continue, but also grow our partnership with you.
Sincerely,
Justin
Letter from MCA:
NOTICE OF ASSIGNMENT FOR THE BENEFIT OF CREDITORS OF TOUCHOFMODERN, INC. AND DEADLINE FOR SUBMITTING CLAIMS
TO ALL CREDITORS AND EQUITYHOLDERS OF TOUCHOFMODERN, INC. AND OTHER PARTIES IN INTEREST:
PLEASE TAKE NOTICE THAT on May 14, TouchOfModern, Inc. (“Assignor”), a Delaware corporation with offices at 1025 Sansome Street, San Francisco, California 94111, made a general assignment (the “Assignment”) to MCA Brokerage Services, LLC (“Assignee”), an Arizona limited liability company, pursuant to California law.
PLEASE TAKE FURTHER NOTICE that the Assignment and the liquidation of Assignor’s assets were approved by Assignor’s stockholders holding the requisite majority of Assignor’s stock.
PLEASE TAKE FURTHER NOTICE that, pursuant to the Assignment, Assignor
transferred ownership of all its rights in tangible and intangible assets (collectively, the “Assets”) including intellectual property, equipment, furniture, and recoveries, to Assignee for liquidation. On May 27, Assignee liquidated the Assets by selling substantially all of the Assets to Touch of Modern, LLC (“Buyer”). Assignee will wind down Assignor and distribute the net sale proceeds to creditors of Assignor who timely submit claims in the manner outlined below.
The Assets were purchased and are being operated by Buyer– an entity that is not affiliated with Assignor or Assignee and that is not a successor in interest to Assignor or Assignee. Any questions that you may have about the Assets or Buyer’s operation of the business comprised of the Assets after May 27, should be directed to:
office-of-ceo@touchofmodern.com.
PLEASE TAKE FURTHER NOTICE that a copy of the documents evidencing the Assignment can be obtained by contacting the undersigned at TOMOinfo@mca-financial.com.
PLEASE TAKE FURTHER NOTICE that all entities asserting any claim against Assignor must submit a claim and proper supporting documentation so as to be received no later than December 7, (the “Bar Date”). Claims can be filed electronically by emailing: tomoinfo@mca-financial.com. Alternatively, a statement regarding the nature of the claim may be sent to Assignee at the following address: MCA Brokerage Services, LLC, 4909 North 44th Street, Phoenix, AZ 85018
PLEASE TAKE FURTHER NOTICE that any claimant who fails to timely submit a claim on or before the Bar Date in accordance with the instructions set forth above shall be barred from sharing in any distribution from the net proceeds, if applicable, and shall not receive any distribution from Assignee as it relates to this matter.
PLEASE TAKE FURTHER NOTICE that even if a claimant timely submits a claim, and such claim is determined to be valid, there may not be proceeds available for the Assignee to make distributions to such claimant.
| MCA Brokerage Services, LLC, an Arizona Limited Liability Company, as Assignee for the Benefit of Creditors of TouchofModern, Inc. | |
| By: | Morris Aaron |
In conclusion
If you are considering buying a watch or any other product on Touchofmodern.com, run as far as possible from these con artists and investor thieves.
You will end up owing a stolen product and therefore committing an offence. Avoid completely shopping with them if you want to avoid buying a touchofmodern stolen watch.
There are hundreds of ongoing legal complaints against the company Touch of Modern and unbelievably they are still trading. They owe many small, medium, and larger businesses thousands of Dollars of unpaid invoices.
It may well be that you will need to contact the manufacturer after your purchase. It’s only then you will realize you are using a product that was stolen. Even if you paid for it yourself, your local Californian authority may have records that your item will be reclaimed as it was stolen by Touch of Modern.
Here is a short list of a few of the hundreds of venders touchofmordern scammed:
Pandeia
The Wooden States of America
Vesuviate Watches
Tiecuffs
Bolstr LTD
Xylocycle LLC
Hit Products Limited
The Fossil Exchange
QArt
Armoir Fashion
Blue Pendulum
Weedgets
Fender Guitar Clocks
Apothecarry Case
E-Bikes