Distie sacks ‘rollercoaster’ Nintendo
Prefers aircraft services
John Menzies is ditching Nintendo, after six "rollercoaster" years as its exclusive British wholesaler. The Edinburgh-based firm said it was exiting "before three or four untested products come on to the market and the in a situation where the volatility will be even greater".
Menzies' Nintendo contract finishes at the end of the year and its demise will see the closure of the company's THE Games distribution subsidiary, the loss of 90 jobs and £3 million shutdown costs. All very peculiar, considering that THE delivered operating profits of £5.5m and had net assets of £3.2m in the year to May 6, 2000.
However, the Nintendo business was "highly seasonal and unpredictable", and so far too exciting for a company which wants to concentrate on newspaper distribution and, of all things, aircraft services. ®
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