Wide Format
Realisis staff face axe as Simpson Group begins consultation process
Simpson Group has entered into a 30-day consultation process with all 96 staff at Realisis In-Store, the large-format printer that it bought out of administration last week.
A spokesman for the Simpson Group said the consultation stage began on Monday (24 November).
He said: "The consultation process will look at business issues and any decision over potential job losses will be made at the end of the 30-day period."
The Simpson Group bought Heathrow-based Realisis In-Store from administrators UHY Hacker Young on 20 November, following the latter's appointment on 14 November.
Administrator Andrew Andronikou said the company, which was formerly known as Realisis TSG, had experienced trading difficulties.
Simpson Group managing director Mark Simpson
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Comments
Tanya Miller - 27 November 2008
trading difficulties? Thats a nice way of putting it... I heard that they were having cash flow issues months ago... it was a bit of a pig when they bought it though to be fair.
Tanya Miller - 27 November 2008
When did the name change to Realsis In store? I thought it was TSG? sounds a little dodgy?
Simon Beard - 27 November 2008
Once again another form fails and leaves the financial ruin in it's wake.
It's not just about thier finances, as one of London's large format Trade litho printers, Victoria Litho has just taken well over £25k of debt for helping Realisis Tsg with thier overflow work to achieve their delivery dates, so not to let their customers down, so how can the existing customers say they will continue to support,when they have probably paid thier bill to Realisis & we are left with 1p in the £ - ah! it all makes sence now, I should be an administrator..!
Stephen Watson - 27 November 2008
Simon
Call me old fashioned but just contact their clients direct. No doubt Realisis TSG/ Realisis In store or the holding company have received payment to date for all work - inclusive of the overflow they 3rd partyed to V. Litho.
Generally in all phoenix situations clients are spun the classic old line of "we're having a restructure in order to improve performance and survive the current climate but more importantly we wan't to pass any savings created on to you Mr Client. And we will be changing the company name to something as close as possible to the old one for streamline purposes" .... Sounds Great.
" Oh and by the way we've had to offer our suppliers a slightly reduced payment structure from what we actually owe them. Penny in the pound is better than.. erm... half pence in the pound. And let me assure you also that if any of our staffing needs to be reduced \(ie all of them), they will be taken care of \(by standard DSS redundancy Pay)
Thanks for you're continued support Mr Client.
Andy Collier - 27 November 2008
From a people point of view I know some of the staff at TSG as they were colleagues of mine at the failed Capital Print. Bad enough to have lost your job once but twice in the space of 6 months is very saddening. Truly a sign of the times that we are currently living in.
My best wishes go out to all those @ realisis. Hope things work out for you.
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