Spicer Hallfield calls in administrators

Financial challenges created by worldwide banking crisis · 2 Apr 2009

Spicer Hallfield calls in the Administrators - Spicer Hallfield has appointed administrators to find a purchaser for the business.

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.

http://www.ephotozine.com/article/Financial-challenges-created-by-worldwide-banking-crisis-11394
 
Whilst I feel sorry for the staff, having seen their products,(at focus on 2009) and the products available by the others at the show I don't think they were competitive (too pricy). I think this will be good for photographers though as Spicer had dominated too much in the past - competition is good for the consumer (us).
 
never really rated them anyway but do feel sorry for them due to the damn CC
 
Geees...

I got an email from them saying that one of their distributors had gone bust. I have been trying to get hold of someone high up in the company actually but this could be why I've been getting no response....

Its a crying shame. This is a company which did some great products. Admittedly some stuff expensive but they did have a certain 'well built' feel to them.

I hope it picks up quick for them :(
 
OK, talked to some other pros using them and there are conflicting stories of a potential management buy-out. One distributor thinks that's possible, with another thinking it's unlikely.

I was about to order an album from them today (they're not my usual supplier) but have decided to not do so for obvious reasons).

The repeating comments from people I'm speaking to who do use them:

1) Lousy web-site
2) New products added making a far too big range
3) Confusing range
4) Expensive rebranding but not enough invested in the online ordering side (particularly for new albums added to the range)
5) Variable customer service

I wonder if this is a similar story to AJ Purdy - it could be that the relaunch they did recently was achievable with easy finance back then. Now it's come to refinance that debt they can't and are stuffed as a result.
 
What other options are out there other then spicer? I have one or two noted down somewhere at home, but who do others use?
 
Two comments from DWF:

The information on the Spicer's own business forum is they are still taking and fulfilling orders via their distributors. Last I heard they were still locked out their Haddenham office which I believe is used by their main direct sales team, by their landlord, due to rent being in arrears.

Discussions are ongoing about regaining access to the main office but those who use stock albums and overlays by the sound of it can still get product via resellers such as

DPM Wallbank
0161 304 9111

and

Foto Source Ltd
01939 235620

and

RICHARD FRANKFURT PHOTOGRAPHIC LTD
TEL: 020 8665 9775
EMAIL: sales@richardfrankfurt.co.uk
WEBSITE: www.richardfrankfurt.co.uk


'Have just spoken with the administrators, MCR. Their Manchester office is dealing with it and they hope to get on site tomorrow (the landlord has locked the gates). They are planing to trade as normal as soon as they can and then sell the business on. Their advice (not surprisingly!) was to sit tight for the moment - I have 8 digital art books awaiting delivery, fortunately not all paid for yet!

Meantime all new orders are going to Colorworld. '
 
Sadly it sounds like the buyers of Spicer have pulled out and its not going to happen - another post on DWF this afternoon

stew
 
It's all over, registered customers are receiving this email:


In order to realise value on our remaining stock, we are offering a discount of 20% on all remaining stock on a first-come first-served basis.

In order to benefit from the discount please ensure that you use the voucher number shown on the right. You can submit your orders and payment in the usual way.


While we are pleased to be able to give you this offer, it is with regret that we have to advise you that a sale of the Spicer Hallfield business on a going concern basis has not been achieved, and consequently Spicer Hallfield Limited will cease to trade.

May we at Spicer Hallfield take this opportunity to thank you for your support over the years and wish you well in the future.
 
Radiohead said:
It's all over, registered customers are receiving this email:


In order to realise value on our remaining stock, we are offering a discount of 20% on all remaining stock on a first-come first-served basis.

In order to benefit from the discount please ensure that you use the voucher number shown on the right. You can submit your orders and payment in the usual way.


While we are pleased to be able to give you this offer, it is with regret that we have to advise you that a sale of the Spicer Hallfield business on a going concern basis has not been achieved, and consequently Spicer Hallfield Limited will cease to trade.

May we at Spicer Hallfield take this opportunity to thank you for your support over the years and wish you well in the future.
Click to expand...

Just got this mail myself! A wedding photographer I work with bought £2k worth of albums the other day to cover him over the next year or so, he will be a bit annoyed they're offering 20% off now :eek:
 
Definately out of business - can't find a buyer and offering 50% discount on remaining stock until Thursday 18th June.

Which is a pain - as i've been using their albums for a couple of years. Can anyone recommend a similar supplier - i used their Elizabethan range - in particular Roma which was lovely. I need to find a replacement album to use rather quickly as my current album stocks are running down.

Thanks
 
I know a few resellers are looking at GFSmith now - their main office is in Hull I believe? They have some lovely albums - slip in and adhesive (I stay away from postbound now) and although their prices are slightly more expensive than Spicers, the range is pretty good :)

Simon - if you need mounts, let me know - I can get them from the manufacturers who used to sell to spicer!

Lee
 
LeeP said:
I know a few resellers are looking at GFSmith now - their main office is in Hull I believe? They have some lovely albums - slip in and adhesive (I stay away from postbound now) and although their prices are slightly more expensive than Spicers, the range is pretty good :)

Simon - if you need mounts, let me know - I can get them from the manufacturers who used to sell to spicer!

Lee
Click to expand...


Have you used them mate?
 
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