Tue, 28 Aug 2012 | ADMINISTRATION
The Alderson Group has announced that the web arm of its company, ABP Web, is to enter administration following a row with Barclays bank.
Based in West Molesey, the printing company's online division had been at the centre of discussions regarding the business' future. It has now been confirmed that ABP Web is to close, with the loss of 90 jobs.
Ron Alderson, co-founder of the company, commented: “Today is the saddest day of my career. It is heart-breaking to have to tell staff that they no longer have a job.
“It gives me some comfort to know that due to the immediate action taken we are able to pay our staff who have risked everything to help the company against this unnecessary and destructive action from Barclays.”
The row with Barclays concerns allegations that the bank withdrew the group's cash facility, which the company claims was in retaliation for its complaints about the bank's mis-selling of interest rate swaps.
The row has already resulted in the Alderson Group moving parts of its business away from Barclays to ensure that the bank cannot gain control of its assets. It was also hoped that the decision would save jobs and help the firm to make payments to suppliers.
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