Feeds

DVD distie goes titsup

Administrators go in at S Gold & Sons

Build a business case: developing custom apps

DVD and CD distributor S Gold & Sons has gone into administration, throwing 120 people out of work.

The Walthamstow-based firm actually ceased trading some time ago, but administrators David Gilbert and Martha Thompson, partners at BDO Stoy Hayward LLP, were appointed joint administrators last week.

The firm employed 142 staff, but 121 were made redundant as a result of a business review.

David Gilbert, business restructuring partner at BDO Stoy Hayward, said: “The business had already ceased trading prior to our appointment. Regrettably, following a review, the majority of the workforce were made redundant. We are now working with company directors to secure a sale of the assets.”

The company last filed accounts for the year ended 31 October 2006 and warned: "Due to increased competition from the internet and the generally competitive nature of the market, most of the industry is suffering from declining margins and reduced selling prices. As such, the long term performance of the company may be affected."

The firm turned over £45m in 2006, down from £47m in 2005, but made a loss of over £300,000. ®

The essential guide to IT transformation

More from The Register

next story
True fact: 1 in 4 Brits are now TERRORISTS
YouGov poll reveals terrible truth about the enemy within
Microsoft exits climate denier lobby group
ALEC will have to do without Redmond, it seems
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
BYOD's dark side: Data protection
An endpoint data protection solution that adds value to the user and the organization so it can protect itself from data loss as well as leverage corporate data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?