RD Industries faces closure

Released 27/07/2010

Administration sees 75 jobs at risk

Plymouth-based RD Industries went into administration on Friday, 23 July, signaling the potential end of the road for to a stationery firm well-known to the industry.

The long-established manufacturer of commercial and activity stationery, as well as commercial labels was started over 30 years ago in 1980. It was established by MD Roger Dymond and is privately owned by the Dymond family.

From its humble beginnings in Saltash, Cornwall, the business grew into a successful, thriving operation with a 75-strong workforce, an annual turnover of £7m, with exports to 22 countries.

This was before the recession which would rock the UK economy and see these 75 jobs hang in the balance as the business went into administration last week.

The decision came despite the business reportedly having orders worth £200,000 and selling goods worth £150,000 a week. According to the North Devon Journal, Dymond said the crisis was precipitated because the bank involved was "running scared" and had turned down a last minute bid to buy the company. He is currently seeking a lender to save the company.

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