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Paperlinx shares suspended.
Heard this through the grapevine just after coming back from Sign UK………
http://www.printweek.com/print-week/new … -its-range
Hope everything goes ok for the sake of all the staff.
John
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6 Replies
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Yeh I heard about it too. It obviously affects the whole company Globally and must be worrying for all involved. but my understanding is it is the European "paper division" which has not been strong for some time now, were as the UK Sign, Print and Australian division is strong. the European paper division took a turn for the worse midway through 2014 because their suppliers the Paper Mills started selling directly to Paperlinx own customers at very low prices due to the slump in paper sales across europe. which is understandable when you see just how little we use paper theses days. "I can’t remember the last time i sent a letter or read a magazine" I seldom even write cheques… maybe theres another reason for that though. 😉 :lol1: :lol1:
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I hope they work things out, I’ve only recently started using paperlinx again.
As the article mentioned, should the brown stuff hit the fan, could the other merchants handle the increase in demand??
Paper usage may have decreased, but it’s a vital part of any printing company…
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I think these guys have been up sh** creek for a while.
Its the staff I feel sorry for in all this. Our local drivers is fully aware that something isn’t right at paperlinx as his always talking to us about it
I heard a rumour about a year ago that these guys were looking at DHL to ship all there products out
I do hope it works itself out!
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quote James Sahota:Our local drivers is fully aware that something isn’t right at paperlinx as his always talking to us about it I heard a rumour about a year ago that these guys were looking at DHL to ship all there products out
No that was a different division again James, that was the company "Delivery Co" that was being sold to DHL.
The multi-Million pound restructuring has been happening the past 24 months or so and was doing very well until the European Paper side of the company took a downturn as a result of what i mentioned above. -
Thanks for clearing that up Rob!
So many people like to talk sh** about firms and make up rumours!
Glad our man leading the boards is well clued up and knows the facts from the rubbish!
😛
Top reporting and contributions as always!
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An $87 million Aus dollar loss in six months is a major loss…….shares appear to be woth pennies…….interesting looking at the share value graphs.
Bad press will only compound the problems.
John
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