News
Wyndeham 'in discussions' to resolve its future
Wyndeham is understood to be in talks to resolve its future, following the collapse of its Icelandic backers, and according to sources, could be on the verge of sealing a deal.
Rumours about the company’s future have circulated since the collapse of investors Stodir and Landsbanki, which led to the company’s business account being frozen by the Treasury.
Chief executive Paul Utting said: "We’ve had discussions with a number of people and we’re still moving things forward, but I haven’t got anything firm to say at the moment."
Industry investor and restructuring specialist Mark Scanlon, who has been mooted as a possible buyer, declined to comment on speculation linking him with the magazine printer.
Asked whether Scanlon was involved in a possible buy-in management buy-out bid for the company, Utting said: "I don’t really want to discuss any of the parties at this time."
Utting: “Moving forward”
Advertisement
Comments
Norman Stanley Flecher - 26 November 2008
Hardly a name to inspire customer confidence
http://www.tgwu.org.uk/Templates/RegionNews.asp?Action=Display&NodeID=92124
Darrel Crowley - 26 November 2008
Oh dear!
Save Print - 26 November 2008
another one of those unsavoury characters back for more. when will this trade and the government ever learn?
david richardson - 26 November 2008
You have to really feel for the poor unfortunate employees of Wyndeham \(those that are left), having to read articles such as these about their management scrambling around trying to sell to anyone remotely interested. At one stage Wyndeham were a thriving well funded organisation [edited]. Whatever happens - sale or no sale I suspect that Paul Utting is no where near as worried as the workforce as a whole. I wish you all the very best, however I fear that a sale followed by 'restructuring' or 'rationalisation' is what is in store.
lordof weboffset - 26 November 2008
Oh no, [EDITED] he has a hell of a record. Just Google the name along with print and enjoy the read. He has featured on print week a few times. Good luck to all at Wyndeham, I think you are going to need it. The market is already drying up for next year, and it's about to get a whole lot tougher than this year, hard though that may be to believe. If all the capacity of this year, is there next year, we will all lose money; it's just a question of how much. Someone or something has to give, and I am afraid that either Coopers or Wyndeham are the weakest links.....its just a question of who we are going to say goodbye to unfortunately. Paper prices will not help either, but I think they are in for a shock as well.
Joseph McGillicuddy - 26 November 2008
Where do you people who hide behind screen names get it from. You're so full of bull**** and way too cynical for rational discussion. It's not the fault of Wyndhams management that the Icelandic banks have collapsed and left the company in its present position, so get real. If Paul Utting can pull a deal out of the hat with Mark Scanlon or anyone else who is prepared to invest in a bunch of cynics, that has to be better than a complete shutdown, restructured, rationalised or whatever.
Norman Stanley Flecher - 26 November 2008
You so miss the point dont you Joseph. [EDITED]
Mr Economics - 27 November 2008
A nervous time for all I fear, let's hope this works out ok for all involved and their families. If the captain of the ship can turn this around he'll be a valued commodity in the printing world - let's give him the room he needs to manouvre and see how well he steers the titanic around this one.
Good article Norman though - suggest everyone to read it - certainly very eye opening...
http://www.tgwu.org.uk/Templates/RegionNews.asp?Action=Display&NodeID=92124
david richardson - 27 November 2008
Joseph, you mistake cynicism for anger and frustration. Nobody would be happier than I to see a restructuring plan, or a purchase that would save as many jobs as possible and enable a company with a good name in the industry to continue. [edited] I think the position that Wyndeham find themselves in is of their own making [edited] Joseph, would you care to expalin the Blackitts fiasco as just one example [edited] there are a whole lot more examples sadly. So Joseph, screen name - yes I need it, anyone who really knows Wyndeham would know why, cynic, no I'm not, just fed up with seeing good people paying the price for poor management, and people like you blaming the Icelandic banking situation and not having a good grip on the real problem. Good luck to you all, I hope the ship's captain performs better now than in the past.
Ian T. Cooper - 27 November 2008
Are John Wood \(Cooper Clegg) and Mike Scalon \(Soon to be Wyndeham) related/friends/associates?
david ward - 27 November 2008
ee
Norman Stanley Flecher - 27 November 2008
God, I hope not
david ward - 27 November 2008
Leumi Bank \(Israeli) involved in both deals apparently
Norman Stanley Flecher - 27 November 2008
Is anyone thinking what I am thinking? You can fit Tewksbury into Maldon but you cant fit Maldon into Tewksbury
Richard Head - 27 November 2008
Does anyone else see a margin of irony in Icelandic accounts being FROZEN?
Alan Partridge - 27 November 2008
Colin?
Mr Economics - 28 November 2008
Tony would never have let this happen. Good name Richard Head, I take it from your name you work for Wyndeham!
Norman Stanley Flecher - 28 November 2008
Is Noel Edwards involved......we should be told!!!
Darrel Crowley - 28 November 2008
It could be worse, they could be seeking to do the deal with Gordon Brown....now that would be crazy
Jack Inabox - 28 November 2008
Well, despite all of the specualtion, things are still seem to be running along as usual. Not much the minions can do except sit tight, but a bit dissappointing to hear of Mr Scanlon "possible" involvement, although looking at the print week 500 there are other large print outfits losing an awful lot more cash than Wyndeham.
To post comments please log in here