• THIS POST UPDATED ON NOV 26, 2013 – SEE “SECOND SECTION” FOR INFO ADDED


    Three articles about “Charrette” from years past:

    Investment
    Firm to Buy Charrette
    Sale of architectural supply company to
    close July 31


    July 23, 1997 — Charrette, which opened 33 years ago as a small
    Cambridge store for architects and grew into an $89 million business, will be
    sold to Berkshire Partners LLC, a Boston investment firm that at various times
    has owned stakes in Lechmere and Papa Gino’s.
    Link to full article:
    Berkshire
    Has Designs for Charrette Corp.
    August 18, 1997 — Berkshire Partners on July 31 acquired Charrette Corp.,
    a supplier of graphic imaging equipment, supplies and design services, in a
    management buyout for an undisclosed price, said Bradley Bloom, a managing
    director at the Boston firm.
    Link to full article:
    Spanish
    Firm Acquires Charrette for $107M
    May 6, 1999 — Charrette Corp., which opened as a store for architects
    in Cambridge 35 years ago, said it has been bought by Grupo Picking Pack S.A.
    of Barcelona. A publically traded company, GPP does in Europe what Charrette
    does in the United States – sells supplies, modeling software, and services to
    architects, engineering firms, and ad agencies.
    Link to full article:

    0
    0
    1
    240
    1369
    Proactive Management
    11
    3
    1606
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

    http://www.berkshirepartners.com/spanish-firm-acquires-charrette-for–107m

    AND, AFTERWARDS, FOLLOW THE
    BOUNCING BALL….
    Charrette bought
    by Jeffries Capital Partners
    Thursday
    18 July 2002 | 00:00 CET | News
    Charrette (US),
    office supplies division of Service Point, has been acquired for Euro 21 mil by
    Jeffries Capital Partners. Service Point, which was formerly known as Picking
    Pack, will use the money to reduce its debt and to raise its consolidated gross
    margin by 14 percentage points to 64%. Service Point also intends to focus on
    the US digital reprography and document management markets, which have higher
    growth and profitability expectations.
    Pitman
    Acquires Charrette
    (July
    2006) posted on Tue Jul 11, 2006
    “Expansion
    into new, fast-growing industries.”
    Pitman
    Company, the Totowa, NJ-based graphic arts supplier, has acquired Charrette
    LLC, the provider of imaging supplies, equipment, and services to the graphics,
    corporate, and technical design marketplaces. Charrette LLC becomes a division
    of Pitman, and will continue to operate under the Charrette name; John J. Ford
    III, president and CEO of Charrette, will continue to head the Charrette
    division
    “Pitman’s
    purchase of Charrette represents a major advance in our company”s strategy
    for expansion into new, fast-growing industries,”? says Joe Demharter,
    Pitman president. “With a strong sales, service, and distribution
    organization model, and an extensive product portfolio that complements ours,
    Charrette offers extraordinary cross-marketing potential. Charrette brings an
    extended industry perspective that can provide our customers with opportunities
    to explore channels for their business growth through an additional range of
    products and expertise.”
    Pitman
    is probably more recognizable to commercial printing houses, while Charrette is
    likely a more familiar brand among digital print shops, designers, and
    corporate in-house and agencies doing print work. Pitman has its own
    wide-format supplies division and, says Demharter, this division will be
    maintained to service its commercial clients, while Charrette will service its
    former clients.
    Founded in 1964
    and headquartered in the Boston suburb of Woburn, MA, Charrette has 22
    locations with 404 employees. It offers 40,000 inventoried items and access to
    more than 100,000 products used in design and wide-format imaging applications.
    In early 2006, the company acquired Mile High Imaging Supply in Denver.
    Agfa Buys Pitman
    By
    Howie Fenton
Published:
    July 19, 2010
    Agfa
    Graphics announced
    last week
    that it signed an agreement to purchase the assets of
     Pitman, one of the few remaining independent dealers of equipment
    including prepress, inkjet, pressroom and packaging printing products. This was
    not a total surprise as speculation of a Pitman sale grew a few weeks ago after
    Kodak announced it would cut distribution ties with the company, which had been
    its largest U.S. reseller of prepress products since 2007.
    The
    relationship between Agfa and Pitman is well established. Pitman was founded
    over a hundred years ago and has worked with Agfa for almost half that time.
    Both companies are based in north NJ and Pitman has 502 employees in 16
    locations throughout the U.S. Agfa will retain the Pitman name for the
    business.
    Agfa’s
    market will increase substantially, thanks to the addition of numerous product
    lines to its offering, including flexographic printing plate solutions for the
    packaging industry, pressroom products and value-added services. Agfa Graphics
    reports it will be able to complement its own developed industrial inkjet
    offering with the addition of a range of media, new inks and wide-format
    printing systems.
    “One
    glance at Pitman’s extensive catalog is enough to understand that we will
    considerably expand our scope,” says Stefaan Vanhooren, president of Agfa
    Graphics. “One of the main drivers behind this decision was the fact that
    we gain a unique opportunity to significantly grow our inkjet business.
    Pitman’s strong distribution network and broad portfolio of products and
    systems, combined with our leading technology, will provide us with promising
    growth opportunities in this strategically important region,” said Stefaan
    Vanhooren, president of Agfa Graphics.

    0
    0
    1
    660
    3763
    Proactive Management
    31
    8
    4415
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

    Agfa
    forecast its U.S. sales would more than double to over $500 million from about
    $200 million after the acquisition of Pitman.
  • UPDATE:  IMPORTANT MESSAGE TO SP USA VENDORS!
    If you have
    any interest, at all, in getting paid some of what your company is owed, you
    need to move very, very quickly to put into motion an orderly process for the
    liquidation of SP USA’s assets (including the collection of its accounts
    receivable) and the distribution of whatever cash remains after SP USA’s tax
    obligations and secured obligations are paid. 
    If vendors do not do anything, it is virtually guaranteed that vendors
    wind up with nothing.
    From what
    we’ve learned from various sources, some internal, some external, SP USA shut
    down operations last Friday.  And, based
    on what we’ve heard, so far, the Managing Director of SP USA terminated all SP
    USA employees, effective last Friday and, right afterwards, terminated
    himself.  There is always the possibility
    that not everyone is gone; perhaps someone still remains on SP USA’s payroll
    and is working at the SP USA HQ office in Woburn.  If I were a vendor, I’d want to check that
    out.
    If everyone
    is gone, and I mean “everyone”, here’s the situation (in my humble
    opinion.)  SP USA was not a small
    business.  If, at the end, it had 100 or
    so employees, it is likely that, at the end, SP USA, was still generating sales
    in the neighborhood of $1 mil per month. 
    SP USA was not a cash business – and customers don’t always pay their
    bills on time – so it is very likely that SP USA’s is owed in the neighborhood
    of $1 million or more (its accounts receivable.)  In addition, I’m fairly positive that SP USA
    owned at least some of its non-cash assets (equipment, computers, furniture,
    fixtures, etc.), and the liquidation of those assets could raise at least some
    cash.  Unfortunately, the way SP USA
    walked away from its business – and customers – the significant “goodwill” (asset)
    that SP USA did have evaporated overnight. 
    In addition
    to my comments above, if no one is left at SP USA, that raises these questions:
    -Where are
    the books and records (especially invoices and A/R records)?
    -Who’s going
    to collect what’s owed to SP USA?
    -Who’s going
    to inventory (supplies, consumables, equipment) what’s left?
    -Who’s going
    to return leased equipment to lessors?
    -Who’s going
    to convert non-cash assets to cash?
    -Who’s going
    to distribute what’s left….to pay vendors?
    -Who’s going
    to ensure that vendors are dealt with fairly?
    -Etc., Etc.
    Etc.
    I’m positive
    that everyone of you know that the U.S. has laws that pertain to
    insolvent/bankrupt companies – our country’s bankruptcy laws.
    Unfortunately,
    the Bankruptcy Court will take no action on a case until it knows that there is a case! 
    Apparently, no one from SP USA has filed a bankruptcy petition with
    the BK Court, and, if there is no one left at SP USA, then there is no one from
    the company to file a bankruptcy petition.
    And, if that
    is the case, then Vendors need to step quickly to the plate and file an “involuntary” Chapter 7 against
    SP USA
    .  It takes three vendors to do
    that.  It requires that they, together,
    complete a simple form, submit statements regarding what happened, and state
    the amount they are owed. And, in this case, vendors should request that the BK
    court take immediate action – immediate action to take control of SP USA
    premises, computers, books and records. And, immediate action to appoint a
    Chapter 7 “Trustee”.

    0
    0
    1
    554
    3163
    Proactive Management
    26
    7
    3710
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

    If SP USA is
    not put into Chapter 7, then it is, as I said previously, virtually guaranteed
    that vendors will end up with absolutely nothing.  If, on the other hand, SP USA is put into
    Chapter 7, then the appointment of a Trustee will, at the very least, provide
    at least some order to the “wind-up” process and ensure that the wind-up
    process is handled in an open, transparent, fair manner.


    UPDATE ON NOV 14TH,
    10:00 AM
    Link to article:

    0
    0
    1
    80
    457
    Proactive Management
    3
    1
    536
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

    THIS SECTION LAST UPDATED AT 12:00 Noon NOV 15TH:
    (In this
    “top section”, will “update” this blog-post with information I receive from SP
    USA vendors)
    Anonymous Vendor #1 – SP USA owes
    us $8,801.00
    Anonymous Vendor #2 – SP USA owes
    us
    $25,134.96

    0
    0
    1
    43
    251
    Proactive Management
    2
    1
    293
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

    Anonymous
    Vendor #3 – SP USA owes us $4,470.00

    0
    0
    1
    28
    163
    Proactive Management
    1
    1
    190
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

    Canon
    USA  – SP USA owes us $8,355.00 (prox)

     – – – – – – – – – – – –

    0
    0
    1
    33
    193
    Proactive Management
    1
    1
    225
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

    ATTENTION SERVICE POINT USA VENDORS !!!

    If
    you are a reprographer, please point your vendors to this blog-post.
      Thank you.

    To Vendors who were doing business with
    Service Point USA:
    As most of the reprographics industry knows
    by now, Service Point USA shut down operations last Friday.  A truly extraordinary event.
    I have a subscription to U.S. Court filings,
    and, so far, I’ve not found any bankruptcy petitions (Chapter 7 or Chapter 11)
    filed by SP USA.
    If your company was doing business with SP
    USA and if your company is owed money by SP USA, then please kindly report to
    me – via e-mail to joel.salus@mac.com
     “an estimate” of the amount of money SP
    USA owes your company.
    If I do get responses from vendors, I will
    publish them; I will publish “the amount” that is owed, but, unless I’m
    specifically given permission, I will 
    not publish the name of the vendor who reported the amount.
    In other words, if you give me authorization
    to include your company’s name, the entry will be published as per this
    example:
    XYZ Paper
    Co, Inc. – Amount owed, approximately $12,000.
    Or, if you don’t give me authorization to
    include your name, the entry will be published as per this example:

    0
    0
    1
    194
    1107
    Proactive Management
    9
    2
    1299
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

    Anonymous
    Vendor #1 – Amount owed, approximately $6,000.

    If you are a lessor, please kindly report the equipment you own that’s at a Service Point USA location (or FM site.)
  • Now up on the Boston Business Journal on-line
    edition:
    Nov 12, 2013, 1:55pm EST
    Service
    Point USA shuts down, leaving customers and employees out in the cold
    Web Editor-Galen Moore
    Boston Business Journal
    Service Point USA shut down operations abruptly
    on Friday, leaving employees with a long weekend and customers calling to find
    out the status of print jobs. By Tuesday, the presses were up and running
    again, but nobody was able to say who was running them.
    The managed print services company is the U.S.
    subsidiary of Service Point Solutions S.A., which had come to the brink of
    bankruptcy in October, Reuters
    reported at the time
    . With operations in Europe and the U.S., the
    Spanish parent company reported a net loss of 834 thousand
     euros for the first
    half of 2013.
    In 2010, Service Point USA was a
    20-million-Euro annual business, according to a
    news release the company published at the time
    , announcing the
    hiring of Chief Operating Officer Kevin Eyers
    to run the U.S. subsidiary. Eyers was COO as of Friday’s shutdown. He could not
    immediately be reached, Tuesday. (Hat tip to Reprographics 101 for posting that news release.)
    An employee reached by phone said workers found
    out about the shutdown last Thursday. It took effect Friday morning. A
    spokeswoman for the state’s Executive Office of Labor and Workforce Development
    said Service Point hasn’t reported any layoffs there.
    Some former Service Point USA employees
    returned to work Tuesday – but it wasn’t clear who was employing them. Service
    Point phone numbers on Summer Street in Boston’s Financial District were
    answered by employees alternately identifying themselves as independent
    contractors and as employees of ABC Imaging,
    a competitor based in Washington.

    0
    0
    1
    390
    2223
    Proactive Management
    18
    5
    2608
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

    Timothy Sachs,
    a senior vice president at ABC Imaging, said Service Point remains a separate
    company. “We are not taking over any operations of Service Point,” he
    said. He declined to elaborate any furthe
    r.
  • As you all must know, Typhoon Haiyan, the
    largest typhoon (or hurricane) to ever make landfall, devastated The Philippines.
    Disaster and, now, total chaos.
    Hundreds of thousands of people are without
    water, food, medical supplies or medical help.
    PLEASE HELP!
    We encourage donations to “Doctors Without
    Borders”.

    0
    0
    1
    90
    516
    Proactive Management
    4
    1
    605
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

  • 0
    0
    1
    127
    730
    Proactive Management
    6
    1
    856
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

    Stratasys Ltd.
    (NASDAQ: SSYS), headquartered in Minneapolis, Minn. and Rehovot, Israel,
    manufactures 3D printers and materials for prototyping and production. The
    company’s patented FDM
    ® and
    PolyJet
    ® processes produce prototypes and
    manufactured goods directly from 3D CAD files or other 3D content. Systems
    include 3D printers for idea development, prototyping and direct digital
    manufacturing. Stratasys subsidiaries include MakerBot and Solidscape and the
    company operates the RedEye On Demand digital-manufacturing service. Stratasys
    has more than 1500 employees, holds over 500 granted or pending additive
    manufacturing patents globally, and has received more than 20 awards for its
    technology and leadership. Online at: www.stratasys.com
    or http://blog.stratasys.com
  • I
    suggest that you read the “blog publisher’s comments” section, which appears at
    the end of this post, before you read the top sections in this post.
    As previously reported in a different post on this blog,
    this (following) comment was made by a person, who, until Friday last week,
    worked for SP USA:
    “I was
    laid-off from SPUSA when they closed their doors. I just came across your
    article on the recent changes with SP.  About 2-weeks ago, GM gathered
    Woburn employees for a meeting. 
    Supposedly, this was a “good” thing that SP-USA and SP-UK had
    separated from SP–Spain
    .”
    This afternoon, I received an e-mail from one of my
    European associates, and, in that e-mail, he said:
    “Gossip in
    Germany is that SPS in Germany, called
    www.Köebcke.de, today might have filed for insolvency (in US that’s a Chapter 11) but again I cannot prove if it
    is correct.”
    “If you go into Allkopi
    homepage:
    http://www.allkopi.no/om-allkopi/, you will find text, in Norweigan, that says, “I dag er Allkopi eid av et
    holdingselskap med base i England“. 
    Translated to English, that says, “Today Allkopi is owned by a
    holding
    company based in England.’”
    Lastly, I received an e-mail from another European
    associate, this afternoon, that, in part, said this:
    “These are shocking news to me! I
    heard last week about the Banks seizing the operations (they had as guarantees),
    which already was bad news. But, from there to shutting down! I cannot believe
    it. Are you sure?

    Why would anybody shut down if they
    tried to (could try to) recover some of their money?
    I´ll let you know if I hear
    something.  Anyway it is really a very
    sad story. I am particularly bothered by (what’s happened to) the employees and
    customers. It was a fine Company, and this should not have happened.”
    Blog Publisher’s comments:
    Okay, at
    this point in time, I really have no idea what’s actually going on, “corporate-wise”.
    To the best
    of my knowledge – this, before any of the recent events occurred – Service
    Point Solutions, a Spain-based holding company, was the “parent company” of
    several “wholly-owned” subsidiaries.  (For
    example, SP USA, Inc. was wholly-owned by the Spain-based parent company, and
    SP UK was wholly-owned by the Spain-based parent.  Etc, etc.)  This may still be the case.
    Given what I
    heard today, it may be that
    there have been changes, corporate-wise
    and corporate-wide
    .  It could be that SP’s lenders have
    taken control of the company and its subsidiaries and are in the process of
    making – and implementing – changes. If SP USA was separated from its Spain-based parent, then when did that take
    place, and, if that did take place, who now owns SP USA? If Allkopi, SP’s
    Swedish operating subsidiary, is now owned by a holding company based in the UK
    instead of by SP Spain, that would be a change, and, if that did happen, who
    now owns the UK based holding company?  Did
    SP’s lenders seize assets?  Did SP’s
    lenders take control of the collateral that was pledged to secure SP’s
    debts?  What’s going on with SP’s
    European, UK, and Scandanavian businesses – are they going to continue in
    operation, or, are one or more of them going to shut down like SP USA did?  Who’s calling the shots?

    0
    0
    1
    515
    2937
    Proactive Management
    24
    6
    3446
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

    We encourage
    SP’s CEO, Chairman of the Board, or both, to prepare and release a statement
    that will provide insight into what’s going on!
  • This inquiry was received by e-mail this
    afternoon from someone whose company was a vendor to Service Point USA
    “Hey Joel,
    hope all is well with you. I was curious about the ownership of service point
    and how they were planning to handle their debt?”

    0
    0
    1
    41
    237
    Proactive Management
    1
    1
    277
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

    Anyone care to respond?
  • UPDATE at 8:45 pm noon on Weds, Nov 13th:
    Comments
    from another source, this evening:
    Slightly edited by
    Blog Publisher
    “Hello
    Joel,
    I worked
    for Service Point USA before they closed the door on us Friday. Here is some
    info that I found out when I was just doing some digging myself.  Kevin
    handled closing the doors by sending an email, not even by a phone call.  The week before, he made a phone call to tell
    us that Service Point USA and CFI and Service Point UK were splitting-off
    from Service Point Spain. But one thing I find funny is that CFI’s web site is
    still up and running (I don’t know if they are still open) whereas, as you
    know, Service Point USA’s website is down. Kevin came from CFI to run Service Point
    USA. Just something to point out.

    0
    0
    1
    115
    658
    Proactive Management
    5
    1
    772
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

    Thank
    You”



    UPDATE at 12:00 noon on Weds, Nov 13th:

    Comments
    from another source, this morning:
    “Joel
    Not a lot of
    info for you, but a few minor facts. The two Summer St locations for SPUSA had
    been hybrid OSS facilities with a host firm and also open to the public. When
    one account was lost operations consolidated into the other host firm. SPUSA
    recently lost that host firm as an account also, the cumulative effects of
    which had to hurt (FM’s have nice margins).
    If anyone was
    seen working machines on Summer St. it would most likely have been either the
    host firm, or the new vendor, or as stated independent contractors in case the
    new vendor doesn’t want to touch SP equipment. Perhaps the new vendor will hire
    former SP employees back at their old site.
    Which leads to
    several questions. What do all the FM programs do? Should they continue to
    operate their equipment? They certainly need to. Will the courts straighten it
    out, and if so, when? Should fm customers start buying their own consumables?
    Can they get a new vendor and push the SP equip to the side until court
    tells them what to do?
    While I wouldn’t
    put anything past Kevin and you could seriously consider all types of rumors
    and scenarios, the most likely answer is that the host firm on Summer St. must
    move on.

    0
    0
    1
    200
    1141
    Proactive Management
    9
    2
    1339
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

    Please, as you
    so well state, keep my id confidential.”

    UPDATE at 3:45 pm on Monday (Nov 11):

    Another
    source submitted this comment via e-mail (and I was given permission to post
    this person’s comments verbatim.)
    “Hi Joel,
    I thought that I would fill in more of the blanks.
    2 hours ago before Kevin’s big meeting that you were told about, I
    was on a conference with him and 2 others and I was told at that time that my
    branch (New Haven CT) and NYC would be closing at the end of the
    year.  We did not fit Kevin’s vision and direction that he wanted to take
    the company, a super factory in NJ. During his big company meeting he
    did mention the New Haven would be closing but not NYC, even though he did say
    it in our meeting.

    0
    0
    1
    110
    630
    Proactive Management
    5
    1
    739
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

    After that I was prepared to go, but as you know it did not end that way.”

    UPDATE at 2:15 pm on Monday (Nov 11):

    Another
    source submitted this comment via e-mail:
    “the staff got paid in full and their health benefits are paid through
    11/30.”

    0
    0
    1
    25
    149
    Proactive Management
    1
    1
    173
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

     – – – – – – –

    Blog Publisher’s
    Note:  I am a member of the Press, this
    blog being a form of press/news.  I do
    not reveal sources.  Ever!

    Today, two
    different sources reached out to me with further details.
    First person:
    “Hi Joel. Thank
    you for keeping my name out of your blog. I appreciate your discretion.
    There were
    roughly 100 people at the end. All were “terminated” per Kevin’s
    email, which he sent from behind his desk while his staff waited for a
    face-to-face meeting/explanation, which they deserved but never got. My
    understanding is that Kevin resigned. On Friday he was disavowing
    responsibility for anything once he departed. I also understand that CFI in NJ was
    shuttered as well.”
    Second person:
    “Hi Joel,
    I was laid-off
    from SPUSA when they closed their doors.
    I just came
    across your article on the recent changes with SP.    
    About 2-weeks
    ago, GM gathered Woburn employees for a meeting.  
    Supposedly, this
    was a “good” thing – that SP-USA and SP-UK had separated from SP – Spain.
      And that “investors” were to review and to
    help in the short term of their financial difficulty.
    During the
    week, there was no communication on the investors deciding to back-out due to
    the numbers not looking good.
    Once again, no
    communication from upper management.  Just rumors and hearsay from other
    employees – not looking good.
    Instead of
    gathering Woburn employees again for an updated status.
    We received
    official word via email…..  really ……..
    Talk about
    being disrespectful and no courage from upper management on relaying important
    information to their loyal and hardworking employees.
    I cannot think
    of any real legal reasons on why not to communicate to all. 
    To un-employment
    on Tuesday…….”
    I e-mailed this
    person back to ask “how many SP USA team members lost their jobs”, and this was
    the response I received:
    “Hi Joel – not
    sure on how many people. This has effected Woburn and branch locations, along
    with CFI (Chris Fowler Inc.) in New Jersey. Hurricane Sandy also had a great
    impact on SP-USA trying to recoup financial lost (losses?).  I am still unclear on
    SP–UK. I thought that the recent investors may be looking at them, but once
    again – (I am) unclear on the UK….
    Thank you”
    Blog Publisher’s
    comments:
    My reporting focuses on SP USA, not on CFI
    (Chris Fowler International, a separate SP subsidiary).  As to the comments that CFI (its office in
    NJ) has shut down, that’s not been confirmed by Service Point (the “parent.)
    As to the comment made that SP USA and SP UK
    were “separated” from SP Spain (the parent), I’ll have to wait until SP Spain
    files an announcement about that with the Spanish Stock Exchange to see if that
    is accurate.

    0
    0
    1
    426
    2430
    Proactive Management
    20
    5
    2851
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

    Sad, sad, sad turn of events.  Apparently, 100 some people lost their jobs
    last Friday!  Awful!
  • Service Point USA, Inc. – Corporate Info from
    Massachusetts Department of Corporations – Link:
    Service Point USA, Inc. – SP filings with
    Massachusetts Department of Corporations – Link:

    0
    0
    1
    80
    458
    Proactive Management
    3
    1
    537
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

  • Given Service Point’s decision to shut down
    its SP USA operation, one can only wonder, at this point, what’s going with the
    rest of Service Point.  This morning, I
    took the time to visit SP’s international web-site and, using links posted
    there, visited the web-sites of SP’s other “divisions”.
    From Service Point Solutions’ web-site
    located at www.servicepoint.net:
    Our Companies
    Get to know
    Service Point around the world
    Belgium | www.servicepointbe.com
    (as of 10:30 am Sunday morning, this web-site is still working)
    Germany |
    www.koebcke.de
    (as of 10:30 am Sunday morning, this web-site is still working)
    Netherlands |
    www.servicepoint.nl
    (as of 10:30 am Sunday morning, this web-site is
    still working)
    Norway |
    www.allkopi.no
    (as of 10:30 am Sunday morning, this web-site is still working)
    Spain |
    www.servicepoint.es
    (as of 10:30 am Sunday morning, this web-site is
    still working)
    Sweden |
    www.holmbergs.com
    (as of 10:30 am Sunday
    morning, this web-site is still working)
    UK |
    www.servicepointuk.com
    (as of 10:30 am Sunday morning, this web-site is
    still working)
    USA |
    www.servicepointusa.com
    (when checked at 10:30 am Sunday morning, this
    web-site wasn’t working, and is, apparently, shut down)
    Also, Chris
    Fowler International’ (SPS’ CFI subsidiary)
      (as of 10:30 am
    Sunday morning, this web-site is still working) (Note:  CFI has an office in NYC, NY)

    0
    0
    1
    278
    1586
    Proactive Management
    13
    3
    1861
    14.0

    Normal
    0

    false
    false
    false

    EN-US
    JA
    X-NONE

    /* Style Definitions */
    table.MsoNormalTable
    {mso-style-name:”Table Normal”;
    mso-tstyle-rowband-size:0;
    mso-tstyle-colband-size:0;
    mso-style-noshow:yes;
    mso-style-priority:99;
    mso-style-parent:””;
    mso-padding-alt:0in 5.4pt 0in 5.4pt;
    mso-para-margin:0in;
    mso-para-margin-bottom:.0001pt;
    mso-pagination:widow-orphan;
    font-size:10.0pt;
    font-family:Cambria;
    mso-ascii-font-family:Cambria;
    mso-ascii-theme-font:minor-latin;
    mso-hansi-font-family:Cambria;
    mso-hansi-theme-font:minor-latin;
    mso-fareast-language:JA;}

    If anyone out there has information to share,
    please e-mail me at joel.salus@mac.com