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Cinram U.K. Operations Going Into Administration

14 Aug, 2017 By: Erik Gruenwedel



Packaged-media replicator Cinram has put its fiscally challenged operations in the United Kingdom into administration — or under control of a court-appointed administrator.

The move comes after Universal Pictures Home Entertainment in June reportedly did not renew its replication deal.

Liquidator Mercer & Hole has been working with Cinram officials to prevent closure of the replication site at Aylesbury and save the jobs of about 118 employees who have remained with Cinram since the end of June.

In a statement, Mercer & Hole said it expected operations would continue while negotiations with potential purchasers of the business continue.

“The joint administrators, assisted by Cinram’s dedicated management team, intend to continue to service client contracts following our appointment as administrators while a sale of the business remains possible. The sale of the business will be in the interests of all those connected to Cinram, and will provide continuity of service for the company’s clients,” Mercer & Hole representative Steve Smith said.

Separately, Paris-based Technicolor, which acquired the North American disc manufacturing and distribution assets of Cinram in 2015, said half-year revenue declined 12.6% to $2.5 billion, due in part to lower disc replication.

“Following a slow start to the year, we saw a marked improvement in the latter half of the period across all our operating businesses, which we expect to carry through the rest of the year,” CEO Frederic Rose said in a statement
 


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