Peter Wise, managing director, Minuteman Press Bristol
For me, the issue of phoenix companies is inter-related with business ethics and morality. To allow loyal suppliers to not be reimbursed for goods and services supplied in good faith is a disgrace. For a new entity to approach suppliers on the same credit terms or better is laughable. Wounded suppliers – if not all suppliers – should unite in their lack of support for the new organisation. Phoenix companies are unethical and immoral, they should not be tolerated. Those who cannot remember the past are condemned to repeat it.
Andy Fox, managing director, The Finishing Company
If the industry stood together maybe it is something that could be done. The key word there though is ‘if’. I just don’t feel that the industry would do that. Someone goes under and then comes back and people say they won’t work with them or supply them, but somebody will. Maybe Ireland is a different set-up, but over here everybody is always cutting each others throats as they want the order book filled. I want my order book filled, so I can’t see it happening.
Laurence Roberts, managing director, Agfa UK
I don’t think it was down to printer pressure in the C&R case, it was more to do with the business case for the new company. People probably looked at the business and said ‘This isn’t going to fly – it’s ill-founded and we don’t want to deal with them’. There will always be people who will supply a company if they think there’s money to be made, but in this case the business plan and the credence of the business plan might not have been something that lent itself to being supported.
Shaun Johnson, managing director, Potts Printers
I’m all for stopping phoenix companies, but I think it should be left up to the law of the land to stop such cases. People should be more interested in concentrating on their own businesses and running them, as these things often tend to take care of themselves in the end. I do think, though, that the government needs to start doing more about the situation, but it becomes a very dangerous game if companies start to get involved with pressuring and trying to influence what goes on around them.