ABP Web future in the balance as Aldersons continues to battle bank
By Tim Sheahan Wednesday, 22 August 2012
Alderson Print Group (APG) has labelled Barclays a "disgrace" as it continued its battle to save its ABP Web division from administration.
The Surrey-based group said it was exploring options including administration on Monday (20 August) as it publicly attacked Barclays for allegedly withdrawing part of its CID facility, an accusation the bank has strongly denied.
APG chief executive Amanda Syson said the group may be left with "no choice" but to file a notice of intent for its ABP Web business and said job losses would be inevitable if the situation continues.
"We have staff working for free at the moment. Work for our clients has been produced and the cost of delivery is coming out of Ron and Peter's pockets directly. It is a difficult time for the group," she added.
According to the group, it is in the process of transferring parts of the business to a new bank and is looking at different banking options to support the continued trading of the Group.
"We are currently facing our three busiest months on record and are focused on completing client work to enable the payment of employees and suppliers," said Ron Alderson, co-founder of the business.
He said that Barclays' actions were a "disgrace" and placed the livelihoods of staff that "always give 200% to the group" at risk.
"We have tried to stay in constant contact with the bank but they have not responded to any of our communication. As a result, this business is in severe danger and we are fight-fighting to get by each day at the moment," he said.
Alderson wrote an open letter to Barclays yesterday (21 August) demanding a meeting to discuss and understand their position.
CORRECTION: ABP Web has not filed a notice of intent to appoint administrators, contrary to the original version of this article.
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