Education tech supplier Tribune Business Systems (TBS) has gone into administration due to crippling cash flow issues with FRP Advisory handling the affairs. CEO Sheldon Stoutt was understood to have been looking for additional investment but this did not materialise, and the company called in the receivers in the middle of last …
Dear Uk (non)Government
Please amend and revise your (un)sivil cervant rules for procurement to cater for the following working methods:
1 - HMG (or lesser bodies it sorta depends) invites bids to provide the following services: blah-blah-de-blah-blah
2 - HMG (or lesser bodies) have budgeted £x spondoolies for the services and this contract will be awarded to bidders aiming to provide HMG and HMG subjects with the best services in the world ever and bidders will need to justify their working methods.
3 - bidders are invited from UK, International limited to EU, International non-EU and some blend or composite of each
4 - feck TUPE. If the present incumbents lose out that is their loss innit?
edit: if HMG (and lesser bodies accessing public dosh) do not do it then they are likely to fall fowl foul of EU and UK procurement principles innit?
edit2: and this extends to all publicly funded services such as NHS, sivel cervices, education, ... , so there huffy-puffy mandarin?
That net asset value of 800K or so at last year end 2012 was down to an equity investment of 1.3m and a loss in that year of close to 600K.
What looks at odds is the level of trade and supplier credit (well over 1m in each case) - roughly five times that of 2011.
That's some increase given prior year sales in 2011 totalled just under 1.9m
I am not surprised this company has gone into administration. Our experience with them was not a good one.
I have tremendous sympathy for those members of staff who have lost their position through no fault of their own. Hope they all find employment as soon as possible.