Once it became clear that things were going badly wrong at Alderson’s web offset wing, it was hard to see how the rest of the business could avoid being pulled down with it. It’s not as if web was located in a distinct location, miles from HQ, with entirely separate customers and – crucially – suppliers. It seemed inevitable that the fall-out would spread, and so it has proved. I feel sad about the demise of Aldersons as I knew it, and for the many good people who worked there. Sad because bumping into Peter and Ron at industry events was always a joy-replenishing experience. When I think about them now I think about Ipex 2010 and coming across them with their heads buried deep in the printing units of the KBA Rapida 106 on display. They went on to buy one. I think about their factory which seemed to contain at least one machine from every possible printing machine manufacturer. I think about the company celebrating its golden anniversary and the celebratory cake depicting Peter and Ron along with various pieces of vintage printing kit. I think about Peter pulling a caravan with his Bentley. I think about the extraordinary staircase in the reception at West Molesey, and of the brothers proudly pointing out that it was built by one of the firm’s apprentices. At the same time as feeling sad about the situation on a human level, I know very well that failing companies in this sector need to die and stay dead. What went wrong at Aldersons? We’ll have to wait a while for the official verdict, but it seems various factors were at play. Was it the bank’s fault? A failure of succession planning? The new management team? Over-extending into too many markets? Or something as simple as selling too cheap? One print boss who competes with the firm told me: “They were selling a pound for 90 pence and it’s eventually caught up with them.” Whatever the ultimate cause, Aldersons has become the latest casualty in the industry’s big shake-out. It’s somewhat ironic that back in 2007 it was Peter Alderson who described the state of the industry as “a bit of a suicide business”. We now wait to find out whether the mortal blow was self-inflicted or not.
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Unencumbered assets that weren't on the Reflections books, I believe.
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