Business
Centrereed and sister company Duffields Business Forms fall into administration
Centrereed and sister company Duffields Business Forms have gone into administration making a total of 100 staff redundant across both companies.
Christopher Brown and Andrew Maybery of Hart Shaw were appointed to Rotherham-based Centrereed on 11 June to place the company into administration.
According to Brown, Centereed, which turned over between £3.5 and £4m, "had simply run out of cash and could not borrow anymore".
He said staff were told that they were not going to be paid for May with the company running out of money.
Although Brown was initially hopeful of selling the business as a going concern, he has conceded it is now unlikely "unless someone comes forward in the coming weeks".
He said the administrators were now looking at an asset sale for the site and equipment in September.
Hart Shaw is also handling the administration of sister company Duffields Business Forms, which became insolvent at the same time as Centrereed.
The Huthwaite, Nottinghamshire firm employed 50 staff and is also set for an asset sale later this year unless a potential buyer comes forward.
Centrereed and sister company Duffields Business Forms are in administration
Comments
Kelvin Bell - 05 July 2009
Very sorry to hear about another casualty.
Any of the "Broker System" customers that need a helping hand - drop us an email at info@vpress.co.uk. Any of the "Broker System" development staff who have been caught out and are now without a job, drop me an email to kelvin.bell@vpress.co.uk and prehaps we can have a chat.
Good luck to all
Kelv
Vpress.co.uk
Daftest name I can think of - 06 July 2009
11 million more turnover for Integrity is 11 million less turnover for everybody else to share in a deminishing market. For those who struggle with rocket science, look at it like this. If you all go shopping at Tesco the other supermarkets wont survive. Any pennies dropping yet?
Daftest name I can think of - 06 July 2009
OK its DIMINISHING, I usually leave the typesetting to others.!!
John Wilson - 06 July 2009
Sorry for all the staff who have been left high and dry by yet another closure.
We are a printers who serve the broker system and face the same price pressures put on the industry by the prices expected.\(Its hard to get a balance between getting the work and getting it at a fair price especially with so many printers struggling.)
We to would like to offer any emergency assistance to customers who have been caught out with the sad closure of this company.
Once again, my thoughts go to the ones left to make the dole line even longer.
Karl Major - 06 July 2009
Such a great shame that a long standing company with a good reputation has succumbed to the fluctuations of the industry.
There are now only a handful of trade printers left in the continuous market. Print brokers need to realise that price is not everthing in selling forms.
Big Bopper - 06 July 2009
Truly sorry to see the demise of what was a nice firm to trade with.
How long before the handful of companies left \(dare I suggest) start talking to each other, heaven forbid any wrong-doing or suggestion of price fixing \(OPEC they ain't) - but a British Continuous stationery Manufacturers golf day might offer a relaxing day and a chance to swap a few stories.
Print Police - 06 July 2009
Big Bopper - The Independent Print Industries Association \(IPIA) offers exactly this!
charles litton - 06 July 2009
Can we please have a new photo of padlock and gates...........this one is really boring and shows no imagination.
Tim Scoot - 07 July 2009
Another One bites the dust - Grasmere/NWC/Langburn / Centereed - more to follow !
Won't be long before Mr Cornford \(Integrity)gets his wish for World Domination - then maybe a few of the print managers will get there just rewards when the shoe is on the other foot
Daftest name I can think of - 07 July 2009
Oh Tim, that was the good old days of the 1970s when it was called Standard Check. They were the only supplier until Ken Stokes and Geoff Broadway jumped the wall.
Delivery was 16 to 18 weeks for every product and they charged any price they liked.
When the brokers have to wait 4 months for their job and start paying the proper price they will wonder who on earth allowed the clock to go back 30 years? Where did I put that kipper tie I wore in the Estimating Department?
Big Bopper - 07 July 2009
Colin, nice to see someone else who remembers the Happy Valley days - Midsomer Norton: SCB then KS & CFH - If you remember they were also the days when the independent bought directly and not through a "preferred supplier" middle man. Telex's not fax machines, no mobiles, no electronic artwork, 5-7 days to proof and 10-15 days for job, every friday was poets day - BLISS! \(Just a shame we all had to wake up to reality).
Daftest name I can think of - 07 July 2009
10-15 days for a job? More like 15 weeks. It took us about 10 days to do a quotation. People like Fairway couldnt be bothered waiting for a quote so they just sent in open orders.
Big Bopper - 07 July 2009
No 10-15 days was for our cut sheet litho work, 12-16 weeks for continuous stationery and anything up to \(wait for it ) 48 WEEKS for bespoke envelopes, take a bow Mssrs Chapman & Spicers! \(1977)
Walt - 07 July 2009
Maybe it's because it was so easy in the early days that some of these firms couldn't adjust when the going got tough.... That's not a criticism, just an observation.... Lots of good companies gone and good staff dispersed to god knows where, a cryin shame.
freddie fox - 07 July 2009
Not sure what makes everyone think that Integrity will be the last one standing? I don't believe there will ever be just one major player again. This goes for most british industries - but especially not within the printing industry...! Biggest isn't always the most beautiful remember chaps......there will ALWAYS be room for the smaller guy if he has his head screwed on.
Dave Turpin - 08 July 2009
I cannot go back as far as some of you guys,but I seem to remember the last recession 1990-93 brought the halycon days of 12 week lead times etc to an end.
Infact you could see it happening in front of you...at Moore Paragon I was told of the great days of the 70s and 80s when it took 2 years to get some Pay advises printed...When I started in 1990 in Leeds ,5 factories shut,they lost £7million on £40million personally our office shut and 20 colleagues got canned leaving myself and 1 other sales guy in a basement office with no windows.
Two years later we joined 2 different small Print Brokers who delivered when the client wanted from suppliers in Midsomer Norton...a decade later the small Print Brokers were £50million businesses in PM-
...who then got swallowed up by these well known Pan European nee Worldwide Facilities Management Gaints
Strange old world eh!
26 Lead soldiers - 08 July 2009
Hi Dave, I think I get the gist of your posting but I m not so sure, are you saying do'ntgo into continuous stationary, or that you made a boat load of cash from selling a PM company?
Dave Turpin - 09 July 2009
Neither...just commented that like a lot of products continuous became a commodity a decade ago..but las the gist of the above comments MAYBE in some arenas like continuous production the current reccession will take us back[not anything like the pricing and supply monopoly of the 70s] but a market with a better balance of demand and capacity,where after another year or two those still in the market can see better profitability
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