Payments Due

1st May 2010 - This is an interesting article about whether new owners at Celinco have met there obligations or not: http://www.printweek.com/business/news/998918/Piggott-Black-Bear-buyer-Celinco-defaults-terms-purchase/

Coincidentally, under the terms of the new Midas Press PLC agreement ("SPA") to buy the company (for the total fee of £167,505) the first deferred payment of £45,252.50 was due for payment on 29th April 2010. Does anybody know if this payment has been made?

If not, there could be a Celinco style situation as in the Printweek article above.

"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/

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/

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)

Printweek investigates!

28th January 2010 - Today, I had an e-mail from a journalist at Printweek magazine called Helena Morris (sorry I didn't get back to you) asking if I could shed any more light on the Midas Press situation - to be honest it's you who ought to be doing the digging!

Speak to Alison Gates at Middleton Partners and find out what's been going on in court this week and ask about the new phoenix company (sorry, I mean management buyout) scheduled for next week.

if any body feels they want to comment her e-mail address is helen.morris@haymarket.com