
OK, get ready for a rant!
It turns out that Midas Press effectively “went bust” last week and yes, that means we (at Fenner Paper) like many other suppliers, won’t get our outstanding invoices paid and we are thousands of pounds out of pocket. Unfortunately that is one of the many risks of being in business.
Sadly this is an all too common occurrence in the printing industry but what really gets people upset is when the printer involved simply tells their customers (which will be many of you reading this blog) that they have "re-branded" or had a "management buy-out". What they will fail to mention is that they have shafted their creditors and literally walked away from their debts. This act in itself is unfair, but then life isn't fair - what is completely unjust is that they can just carry on trading as Midas Press (now PLC) with their customers (you) being completely oblivious as to what has happened.
So just to be clear, MIDAS PRESS HAS GONE BUST, but they are still taking on jobs and trading as Midas Press!
Please THINK AGAIN before supporting this type of phoenix company. How can you trust people who do things like this? According to the Printweek blog, apparently Midas Press have taken Paperlinx (the group who owns Robert Horne, Paperco and Howard Smith) for over £400,000!
If any of you want to see the kind of vitriol that goes with this type of appalling behaviour, have a look at the following links, especially the comments on the Printweek site!
...end of rant