Home
Distressed Businesses
  • All Distressed Businessess
  • Administrations
  • Liquidations
  • Winding Up
  • Insolvency Advice  New
Buy a Business
  • All Businesses for Sale
  • Find a Business for Sale
  • Raising Business Finance
  • Buyer Acquisition Service   New
  • Escrow Service   New
Sell a Business
  • Sell Your Business
  • List your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Corporate Services  New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
  • Video Insights
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / Distributor Cinram placed in administration after losing Universal contract

Distributor Cinram placed in administration after losing Universal contract

Mon, 14 Aug 2017 | ADMINISTRATION

Distribution and logistics firm Cinram has gone into administration after failing to land a key contract with Universal Pictures.

The Aylesbury-based firm, which has previously held contracts with Sky, Paramount Pictures and UK retailer Game, was forced to lay off 81 workers and transfer 29 more in July after the US film-maker pulled out of a key contract with the distribution firm. The contract is said to have accounted for the majority of Cinram’s work at its Buckinghamshire site.

Universal Pictures instead turned to Sony DADC UK, based in Enfield, while Cinram’s bosses had worked out what Unite union bosses described as a “good redundancy package” following “intensive negotiations”.

As part of the deal 29 Cinram employees made a TUPE - Transfer of Undertakings (Protection of Employment) Regulations - transfer to Sony DADC.

A further 81 workers accepted a redundancy package negotiated by the union, with a further 118 employees still employed by the distributor, which is still searching for a buyer for its Rabans Lane, Aylsebury site.

A statement from Mercer & Hole, the firm appointed joint administrators, stated that losing the contract at the end of June had cased Cinram to “review its trading position in light of the reduced revenue”.

It continued: "The corporate restructuring team (Steve Smith, Chris Laughton and Henry Page) at Mercer & Hole have been working with the directors to prevent the closure of the site at Aylesbury and save the jobs of those employees who remained with Cinram since the end of June. It is expected that operations will continue in administration while negotiations with potential purchasers of the business continue.”

Find a wholesale business for sale
Subscribe to Business Sale Report here.


Share this article



Latest Businesses for Sale

Independent Building Contractor
UK Wide, Scotland

The Company is a highly regarded building contractor, predominantly providing its services to clients in the commercial and retail sectors. The Company has experienced considerable growth since its foundation, with the strength of its workforce and s...

Asking Price: Offers Invited
Turnover: £2,800,000

LEASEHOLD


Debt Collection Agency
UK Wide

Highly successful specialist agency operating for over nine years. Provides comprehensive cross-border debt recovery services for overseas banks with large UK portfolios of credit card debt. Primarily recovers debt from UK residents which was incurre...

Asking Price: Offers Invited
Turnover: £915,162

LEASEHOLD


A Well-Established Haulage Company
North East, UK

Provides cost-efficient, reliable general haulage services across the UK, specialising in same-day and next-day deliveries. Operating nationally, the company currently caters to 25 active clients nationwide, all of whom provide reliable, repeat busin...

Asking Price: Offers Invited
Turnover: £600,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
15
 
Jan
 

Buyer sought for portfolio of pubs | BUSINESS SALE

Five pubs that formerly operated under the Authentic Alehous...

 
14
 
Jan
 

Acquisitive RSK Group completes trio of deals | BUSINESS SALE

Cheshire-based technical services consultancy RSK Group has ...

 
13
 
Jan
 

Heat transfer equipment manufacturer falls into administration | ADMINISTRATION

Coventry-based Covrad Heat Transfer has fallen into administ...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Daily Financial Alerts
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2021. Business Sale Report Ltd. All rights reserved. www.business-sale.com.