Government Urged To Investigate Company
By Jo Deeks on Tuesday, 9th May 2006.
An employee who has worked for 25 years at a company which has called in administrators has written to the Prime Minister calling for a Government investigation into the company's dealings.
Stuart Foreman had worked at Workspace Solutions of Hamlet Green, Haverhill, since 1981 and in his letter to Tony Blair, with copies to Suffolk MPs Richard Spring and Tim Yeo, said he believed the circumstances that had lead to the company being liquidated needed to be investigated.
Although the administrators would conduct an investigation, Mr Forman said he believed there should be an investigation by a government department. He likens the situation facing around 150 remaining staff to that which arose at Rover.
Mr Foreman of Hertford Road, Clare, said he did not believe the company had fallen as a result of competition from cheap imports, but because it had suffered from poor senior management over the last about eight years.
He said he felt that a new product range should have been introduced and old ones discarded. He also felt a complicated chain of company acquisitions and take-overs had also led to its demise.
He said land on which the factory stands was sold on and carpets, curtains and machinery were sold in what appeared to be "asset stripping" and had to be rented back by the company.
Up to March 2006, he believes the company was simply allowed to run itself down.
Mr Foreman said: "Even after the administrators had arrived on site, it was my opinion that, given the money, the business could have been turned around giving a good return on capital without the subsequent loss of hundreds of jobs. By far the worst management activity for Workspace Office Solution has occurred over the last three years.
"The happenings over the last three years need to be investigated to determine how the Bullough Group found itself in administration. If underhanded or unlawful dealings have taken place the employees and their pension funds should be compensated along with the company's suppliers who are owed money. This appears to be a similar chain of events to Rover and requires immediate and thorough investigation."
Stuart Foreman had worked at Workspace Solutions of Hamlet Green, Haverhill, since 1981 and in his letter to Tony Blair, with copies to Suffolk MPs Richard Spring and Tim Yeo, said he believed the circumstances that had lead to the company being liquidated needed to be investigated.
Although the administrators would conduct an investigation, Mr Forman said he believed there should be an investigation by a government department. He likens the situation facing around 150 remaining staff to that which arose at Rover.
Mr Foreman of Hertford Road, Clare, said he did not believe the company had fallen as a result of competition from cheap imports, but because it had suffered from poor senior management over the last about eight years.
He said he felt that a new product range should have been introduced and old ones discarded. He also felt a complicated chain of company acquisitions and take-overs had also led to its demise.
He said land on which the factory stands was sold on and carpets, curtains and machinery were sold in what appeared to be "asset stripping" and had to be rented back by the company.
Up to March 2006, he believes the company was simply allowed to run itself down.
Mr Foreman said: "Even after the administrators had arrived on site, it was my opinion that, given the money, the business could have been turned around giving a good return on capital without the subsequent loss of hundreds of jobs. By far the worst management activity for Workspace Office Solution has occurred over the last three years.
"The happenings over the last three years need to be investigated to determine how the Bullough Group found itself in administration. If underhanded or unlawful dealings have taken place the employees and their pension funds should be compensated along with the company's suppliers who are owed money. This appears to be a similar chain of events to Rover and requires immediate and thorough investigation."
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