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Senior Member
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Join Date: Mar 2008
Location: uk/usa
Posts: 10,146
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Spicer Hallfield calls in administrators
I think a couple of you use these guys? I am sure you already know, but I thought it might interest you....
Press Release:
The business’s owner, entrepreneur Mike Smith, said in a statement today (April 2): “The worldwide banking crisis has created critical financial challenges for the company. The board has been involved in ongoing and intense discussions with the company’s bank, RBS, to obtain funding to secure the company’s future.
However, despite offering further injection of shareholder investment we have unfortunately been unable to reach agreement with the bank on additional lending facilities.
Sadly, in these circumstances the directors have no option other than to appoint administrators to find a buyer – in the meantime it is business as can normally be expected under these circumstances.”
Spicer Hallfield CEO John Wyatt is working with administrators, MCR, to keep the business running day to day during the search for a potential buyer .
He said: “We are working flat out to find a solution to this problem. We are mindful of the extremely negative impact this is having on both staff and distributors and we are doing everything in our power to find ways to both save jobs and the legacy company that is Spicer Hallfield.”
He added: “It will be the job of the administrators to secure the best outcome it can to ensure the future of the company and I am confident that there a number of viable solutions. Whatever the outcome I am sure there will be an ongoing business to serve our customers and to save as many jobs as possible.”
Spicer Hallfield has been working for months to implement a move of its Bucks factory production lines to the company’s sister site in Bradford.
The firm was planning to maintain Head Office and support staff locally in the Haddenham area, as the Haddenham site lease came to an end this spring.
Press Release:
The business’s owner, entrepreneur Mike Smith, said in a statement today (April 2): “The worldwide banking crisis has created critical financial challenges for the company. The board has been involved in ongoing and intense discussions with the company’s bank, RBS, to obtain funding to secure the company’s future.
However, despite offering further injection of shareholder investment we have unfortunately been unable to reach agreement with the bank on additional lending facilities.
Sadly, in these circumstances the directors have no option other than to appoint administrators to find a buyer – in the meantime it is business as can normally be expected under these circumstances.”
Spicer Hallfield CEO John Wyatt is working with administrators, MCR, to keep the business running day to day during the search for a potential buyer .
He said: “We are working flat out to find a solution to this problem. We are mindful of the extremely negative impact this is having on both staff and distributors and we are doing everything in our power to find ways to both save jobs and the legacy company that is Spicer Hallfield.”
He added: “It will be the job of the administrators to secure the best outcome it can to ensure the future of the company and I am confident that there a number of viable solutions. Whatever the outcome I am sure there will be an ongoing business to serve our customers and to save as many jobs as possible.”
Spicer Hallfield has been working for months to implement a move of its Bucks factory production lines to the company’s sister site in Bradford.
The firm was planning to maintain Head Office and support staff locally in the Haddenham area, as the Haddenham site lease came to an end this spring.
 Admin Team
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Join Date: Sep 2007
Location: South Wales, UK
Posts: 15,385
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That's a shame, less competition means less price wars for us.
Mind you I am surprised none of this happened sooner - the internet has taken SO much trade now I can't see how shops can survive unless they sell something that can't be purchased online.
Mind you I am surprised none of this happened sooner - the internet has taken SO much trade now I can't see how shops can survive unless they sell something that can't be purchased online.
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Senior Member
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Join Date: Sep 2007
Location: east sussex
Posts: 3,484
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One of the problems shops have which internet trades don't is the overheads. I just can't see how they can compete. Apart from buying a camera from a UK company, purely incase it goes wrong, I can get it repaired without sending it back to country it was bought from. I tend to purchase lens etc from the far east (mainly Hong Kong) because they are so much cheaper. I have had up to a third less than UK prices for the same product.
Bazza
Bazza
 Senior Member
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Join Date: Aug 2008
Location: Leicestershire, UK
Posts: 2,133
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The convenience of ordering from an armchair, delivered to your door, reduced prices, greater variety of stock and choice, discount codes, internet shopping is attractive. Despite the fact I internet shop I'd hate to see the shops on the High Street disappear. I guess we all want to go and see the item for real even if we do buy elewhere. Some of it though can only be blamed on the greedy businesses here. Like Bazza says, you can pay a third more in fact even 50% more on the High Street than at Amazon or similar. Generally we pay more in this country, even at Amazon than the US or some other countries. Appreciated stores have many overheads, but some have yet to realise they have to stop ripping people off and get their prices close as they can to internet prices. If there isn't a significant difference I'm sure many would like to get the item right now...