Daren Carter - at the new Midas Press PLC?

26th February 2010 - Just noticed a comment left on the "New management team" piece[16th February] and someone has left a comment as follows:
"...So Daren Carter is NOT involved? Yeah righto!"

I take it from this that he is still involved - anyone know any different? -or if anyone wants, they can always pop in and say hi to Daren and ask him yourself at his home address:

Daren Carter, Fitzroy House, Fitzroy Road, Fleet, Hampshire GU51 4JW

Midas loses sales consultant

25th February 2010 - Midas is in the press again! Ex Midas Press sales consultant David Crompton has joined Pureprint. Printweek reported it as "David Crompton joined the company in January from recently failed Farnborough printer Midas Press".

Did many others leave the sinking ship?
http://www.printweek.com/

Is FSC and PEFC certification a hoax?

24th January 2010 - I've received an e-mail from an interested party as a follow up about Midas Press having ISO accreditations (http://midaspressgoesbust.blogspot.com/2010/02/iso-accreditations.html)

The e-mailer says that "although Midas didn't have ISO certificates they did have FSC and PEFC certification and I've noticed that they show that they have certification on the new Midas Press PLC website - this just cannot be true. They must be using the old Midas Press certificates and if they are, they are being dishonest"

Good point, I will send an e-mail off to FSC and PEFC and see if I get a response.

Dave blames the snow

23rd February 2010 - Printweek has just reported Paperlinx posting an £81m pre-tax loss for first six months of their financial year!

Dave Allen (pictured) who is vice president UK, Ireland, Spain and South Africa, said: "The bad weather had an impact across the whole paper market and, as a significant player in this, Paperlinx merchants were of course affected."

Funnily enough he didn't mention anything about the bad debt situation with people like Midas Press going bust and owing them loads of money! Funny how some people can't see what is right in front of their face - as he blames the weather maybe he is snowblind when reading his accounts.

"Doing The Midas"

22nd February 2010 - On Friday an article appeared in Printweek called "Paper manufacturers set to impose further price increases" reporting the the comical antics of paper mills and merchants increasing their prices (which will then inevitably crash down again!)

The first comment on the article on the printweek blog by Arthur Sternesky reads as follows:

"I don't care because I'm going to start using McNaughtons\( for McNaughtons read Antalis). Buy as much paper as you like go bust start up again and carry on trading. I think this is called "doing the Midas"

Well said Arthur

Have a read:
http://www.printweek.com/paper/news/984890/Paper-manufacturers-set-impose-further-price-increases/

ISO Accreditations

19th February 2010 - I had an anonoymous comment left about the question of ISO accreditations. The response was "your information is way out - midas never had any iso's and they no longer work with LA, EL or BA"

Well I stand corrected although I do believe that Midas Press were registered as an ISO 12647 - and on the Proficient Colour Register? Obviously this would not be something that Midas Press PLC can now claim. As for no longer working with Laura Ashley, Estee Lauder and British Airways, maybe these companies took there business away before Midas Press went bust.

Appeal for information

18th February 2010 - The response for my last request for information was great and we were able to publish the details of the new management at Midas Press PLC - thank you for those e-mails and comments.

So now another request - has anyone seen a report from the administrator about the winding up of the Midas Press (partnership) yet? Is it my imagination or are they being very slow? The company is called Middleton Partners. Any info would be gratefully received

McNaughton more worried about environment than phoenix companies

17th February 2010 - Today it was announced on printweek.com that the James McNaughton Group has launched an environmental guide for pulp and paper production.

McNaughton's environment manager Matthew Botfield (pictured) announced the launch.

And guess what, the only comment left on the printweek blog so far is from a "tag" called unhappy printer - his comment is "Fantastic Matthew
Hopefully soon we will have a guide to Pheonix's, Pre-Packs and dodgey MBO's" - sentiments agreed by all of us - especially as it is the McNaughton/Antalis conglomerate that are supporting the phoenixed Midas Press PLC!
http://www.printweek.com/news/984665/James-McNaughton-launches-environmental-guide/

The New Management Team at Midas Press PLC

16th February 2010 - Thank you to the e-mails and Comment that I received. I can at least build up a picture about who is involved in the new "Phoenix" company.

The new management team seem to be as follows:

David Hissey - Main Shareholder and money man. He is the ex partner of Midas Press that retired a few years ago on what was probably quite a healthy pension! He's now back in the driving seat having ousted his previous partner Derek Jarman. Should we feel sorry for Derek Jarman - although he (may- subject to confirmation) be made bankrupt - has he really got nothing? - will it be one of these cases where wealth has been moved to other family members? it will be interesting to see how that develops - any news, just let this site know.

Paul Wells - He's now the Managing Director. Used to work closely with Derek Jarman. I take it they aren't friends now.

Richard Sharman - He's the Financial Director and he was at the old Midas Press (partnership) - he was the one that would never give you a straight answer or if you were a supplier, would never call you back.

Paul Chivers - Production Director - a very competent production man.

Steve Oliver - He used to be the "junior" partner in the partnership before Midas Press went bust and he's obviously run away with his new friends! He's now been de-moted from Junior Associate Partner to be Sales Director of the new Midas Press PLC.

Clive Merit - Commercial Director - I think he's a quite a nice guy but is probably easily lead.

This appears to be the new "TEAM MIDAS" or "PHOENIX FLYERS" - money no object, because we just dumped our liabilities and lost all our debts!

Who is behind the new Midas Press PLC?

15th February 2010 - Firstly I must thank those of you who have e-mailed me directly [dodgytraders@googlemail.com] with information about the Midas crowd although if you post comments on this blog, you can do anonymously.

I think it's about time that the names of the people behing the new Midas Press PLC were named (and if appropriate, shamed) . I presume the paperwork is taking a while to get to Companies House because so far nothing has been filed - so can anyone send me some info about the people behind the new company? I'm sure everyone knows that former "associate partner" Steve Oliver has not been ousted in the management coup and in fact maybe he instigated it? I don't think there's a lot of love lost! All info and or pictures gratefully received...

ISO Accreditations or not?

12th February 2010 - Just had a thought here but Charterhouse Print Management sells itself on it's suppliers having all sorts of quality and environmental badges.

Well, Midas Press (the Partnership) had ISO14001 and ISO9001 but the new Midas Press PLC doesn't have any of these accredited ISO certifications - does it???? .... Does anybody think that they will have told their important customers such as Charterhouse Print Management, or any of their direct customers such as Laura Ashley, Estee Lauder and British Airways????????

Printweek Article about Phoenix companies

10th February 2010 - In spite of the fact that they've removed the link to this blog, Printweek has written an article about merchants supporting "Phoenix" companies and good old Midas Press is getting quite a few mentions! It would be nice if Printweek actually said something rather than sitting on the fence - it must be painful!

It turns out that MsNaughton Paper and Antalis are coming in for quite a slagging! The blog has lots and lots of comments, so have a good read:
http://www.printweek.com/News/MostRead/981724/Merchants-tough-phoenix-firms/

Midas Website dissapears!

9th February 2010 - So the new Midas Press PLC has taken down the old website and replaced it with a "JAZZY" new holding page! ...wow. I wonder if the new website they are working on will mention the 40 year "heritage" of the company and conveniently forget to mention the bankruptcy and trail of debts? I wonder!

Printweek busts my link!

8th February 2010 - Printweek.com have broken the link to this blogsite. Any reason? or are they just as spineless with there blog as in the articles they write?

Charterhouse - Ethical or not?

8th February 2011 - Today I shall be writing to Gary Mahoney who is the Chief Executive of Charterhouse Print management.

Under the section on their website called Our Culture, they state "In our business activities we are partnership-based and ethically guided" .

I'll be asking Mr Mahoney what his policy about using Phoenix companies is and whether they consider that "Ethical". Also, given the fact that they say they work on partnership basis, how about the fact that their partners (print finishers, paper merchants etc) have just been taken for a ride!

Merchants get tough on Phoenix firms - like hell!

8th February 2010 - Printweek has published an article about paper merchants supporting Phoenix firms like Midas Press PLC - and you should see some of the comments on the blog - hilarious.



One of the crackers is David Allen (pictured), UK regional president for parent company Paperlinx, said phoenix companies can use their unfair advantage to lower market prices or take market share."We also regard bad debt as outstanding debt and wouldn't trade with people that don't pay what they owe," he said. Some of the people contibuting to the blog obviously think he's related to the deceased irish comedian of the same name - but he really was funny.

Is this because he has to explain a £580,000 pound loss to his Australian bosses at Paperlinx?
Have a laugh:
http://www.printweek.com/business/news/981724/Merchants-tough-phoenix-firms/

Look who's supplying Midas Press PLC!

8th February 2010 - This morning I drove past the factory and guess what, there was a GM2 lorry being unloaded - so it looks like the paper merchants are back in there to supply the new Midas Press PLC with paper! I think GM2 deliver for Macnaughton paper - I hope you know what you are doing guys?

Are Sothebys and Charterhouse their largest customers?

3rd February 2010 - I have been told by a reliable source that the large print management company called Charterhouse are a big customer of Midas Press.

... and I have also been told that they print Sotheby's auction house catalogues.

can either of these companies confirm or deny this and also state whether they will use the new company, Midas Press PLC! Picture of the Charterhouse offices above (they look expensive!)

...please, comments are welcome!

Printweek reports Midas at last!

29th January 2010 - Wow! what a response to the Midas situation on Printweek.com:

www.printweek.com/news/980464/Midas-Press-sold-management/

...lots and lots of comments.

Finally the press has latched on to this story - I started this blog on 22nd January...!
If anyone has information that people would like to publish (as long as it's not libellous or defamatory, just let me know)