EUK • 12 December 2008 • The SnowBlog
So, EUK has gone out of business. 700 people made redundant today. My heart goes out to everyone there especially at this time of year. It's heartbreaking. I used to work for Kingfisher, the company that owned Woolies and EUK amongst others, so it's been especially astonishing and upsetting to see these businesses crumble - businesses, as Rob said a number of posts back, that many people close to us have worked tirelessly for many years to make successful.
As far as the impact on Snowbooks goes, as luck would have it we have no payments outstanding from EUK at the moment. They hold about 4000 of our stock which I don't expect to see again (which is fine - just so long as the adminstrators Deloitte - who I also used to work for, small world, eh - don't try to return it for credit, which I would refuse. I hope I'm not forced into accepting.) So we're getting off lightly. Since EUK is said to hold 15m of publishers' stocks, I think we will be in the minority.
Crazy, upsetting times. As I say, my thoughts are with the 700 whose Christmas is well and truly ruined.