UK banknote printer De La Rue fears for its future

[BillN]

This seems a rather sad story considering it's history

https://www.bbc.co.uk/news/business-50557097

"It began producing banknotes in 1860, first for Mauritius and then elsewhere. Today it produces enough notes each week that if stacked up would reach the peak of Everest twice"

[Andyp1973]

https://www.printweek.com/print-week...-ceo-to-depart

https://www.printweek.com/print-week...-passport-loss

My understanding is that they have been a company that is slow to react to change. I also think there was an air of arrogance about how they handled the passport tender because they thought that the Government at the time wouldn’t take it abroad.

I’m not attached in anyway to the company and have never dealt with them, either as a customer or a supplier so My opinion may be way off the mark. I do know a number of people that work at the Gateshead site and it’s them that I feel sorry for the most.

It’s the same as the newspaper industries decline with the move to a digital format. We are heading towards a cashless society.

[adrianw]

About ten years ago they moved there product manufacturing to the far east with a completely different set of procurement rules, and couldn't give a toss about their local suppliers, so good riddance

[sweeney]

https://www.printweek.com/print-week...-ceo-to-depart

https://www.printweek.com/print-week...-passport-loss

My understanding is that they have been a company to that is slow to react to change. I also think there was air of arrogance about how they handled the passport tender because they thought that the Government at the time wouldn’t go abroad.

I’m not attached in anyway to the company and have never dealt with them, either as a customer or a supplier so I may be way off the mark. I do know a number of people that work at the Gateshead site and it’s them that I feel sorry for the most.

It’s the same as the newspaper industries decline with the move to a digital format. We are heading towards a cashless society.

A company I worked for printed a job with them about 25 years ago . They were a nightmare to deal with. As you say they had a degree of arrogance to them which was astounding. I'm surprised they're still going.

[Alpha4]

If only there was some way they could get their hands on a large amount of cash.

[Huertecilla]

This seems a rather sad story considering it's history

In today´s perspective, from an EU p.o.v. it is more like hilarious.

[BillN]

Just read through their 2019 Accounts - management team almost completely changed, BUT no real indication that the situation was moving towards where they are now ............... past (reported) performance was good

a really dramatic fall in the share price over the past couple of years

the directors......they seem to have done £well in the past BUT they must have seen this coming even if they were only half bright - something wrong somewhere in all this... seems to me to be a shameful situation if they do go "pop"

They are headquartered in Basingstoke and employ over 2,000 people world wide

Doesn't feel "right" at all

[Brian]

In today´s perspective, from an EU p.o.v. it is more like hilarious.

B

[Pitfitter]

Wasn’t making banknotes with a long term use going to have an effect on the suppliers? If these notes last so much longer then repeat orders slow up? May be only a small part of business but if you’re trading badly it all counts.

[Andyp1973]

Just read through their 2019 Accounts - management team almost completely changed, BUT no real indication that the situation was moving towards where they are now ............... past (reported) performance was good

a really dramatic fall in the share price over the past couple of years

the directors......they seem to have done £well in the past BUT they must have seen this coming even if they were only half bright - something wrong somewhere in all this... seems to me to be a shameful situation if they do go "pop"

They are headquartered in Basingstoke and employ over 2,000 people world wide

Doesn't feel "right" at all

I think that they are the same as a number of other large long standing businesses that have not kept up with the times. An out of date mentality with an air of arrogance where they think they are either to “big” or to “good” to fail will only end one way.

They genuinely thought that they could stand firm and hold the Government to ransom over the passport tender. And it failed big time.


Sent from my iPhone using Tapatalk

[Andyp1973]

A company I worked for printed a job with them about 25 years ago . They were a nightmare to deal with. As you say they had a degree of arrogance to them which was astounding. I'm surprised they're still going.

In 25 years they won’t have changed.


Sent from my iPhone using Tapatalk

[oldoakknives]

In today´s perspective, from an EU p.o.v. it is more like hilarious.

Whilst as a company they seem to have made some mistakes, losing the UK passport contract and having "to write off £18m after Venezuela's central bank failed to pay its bills" would seem to be a major part of their problems.

I must admit to wondering though, why a company being in trouble, who employ 2,500 people globally, would apparently lead to some chortling in the background in the EU.

[Chinnock]

If only there was some way they could get their hands on a large amount of cash.

Ironic - company that prints money could go bankrupt!

I blame contactless

[Thewatchbloke]

They don't just print banknotes, they are secure printers and print (or at least used to used to a few years ago) credit and bank cards amongst a whole host of other secure printing such as driving licences, bank and travellers cheques etc. I nearly worked at their Basingstoke facility many years ago but even back then their employment contract was so appalling I didn't accept!

[meridian]

I understood from a former employee that they have never printed local currency ?

[Tifa]

The company founder must be turning in his grave.

[Essexman]

I blame all those Essex ladies stealing the old bank notes by stuffing them down their underwear back in the 80s

https://en.m.wikipedia.org/wiki/Loug...nerator_thefts

[Kingstepper]

I understood from a former employee that they have never printed local currency ?

Every article I've read (BBC, Telegraph, Guardian) suggests otherwise.

[Andyp1973]

Every article I've read (BBC, Telegraph, Guardian) suggests otherwise.

As a business they definitely do but it depends on the site. Different sites specialise in different things.

[Kingstepper]

As a business they definitely do but it depends on the site. Different sites specialise in different things.

I'm sure they do.

[Huertecilla]

I must admit to wondering though, why a company being in trouble, who employ 2,500 people globally, would apparently lead to some chortling in the background in the EU.

That is true to form.

[uptheaddicks]

My late Father worked for the company on the shop floor before the First World War. When a sheet of bank note paper went" missing" the management sacked the entire shift. When the missing paper was found jammed down in the guts of a press a few days later, none of the dismissed were re-employed.
My Dad then joined the Army...………..

He will be looking down and laughing!

[magirus]

I must admit to wondering though, why a company being in trouble, who employ 2,500 people globally, would apparently lead to some chortling in the background in the EU.

A mixture of jealousy, insecurity and pig ignorance would see to that.

[oldoakknives]

That is true to form.

What? That a company being in trouble, who employ 2,500 people globally, would apparently lead to some chortling in the background in the EU.

In today´s perspective, from an EU p.o.v. it is more like hilarious.

[Backward point]

It just goes to show that a licence to print money is no longer a licence to print money.



(I'm here all week, try the chicken...)

[TheFlyingBanana]

It just goes to show that a licence to print money is no longer a licence to print money.



(I'm here all week, try the chicken...)

Very good!


Is something wrong with the chicken, cos it tastes fowl.

[gcleminson]

Very good!


Is something wrong with the chicken, cos it tastes fowl.

Coq au vin?

[meridian]

Every article I've read (BBC, Telegraph, Guardian) suggests otherwise.

Wow! They’ve been printing twenties in Basingstoke for all these years and never been robbed?? Must have some first class security.