Posts Tagged ‘norbain pre-pack’

One of the security suppliers most closely identified in the industry with the Norbain administration, Samsung Techwin, has reacted with news of its own forward strategy in the aftermath. It was announced on Monday that Norbain had been sold to Newbury Investments in a “pre-pack” administration deal, for an undisclosed sum. Speaking yesterday, Simon Shawley,…

The story of Norbain’s financial troubles is, from one installer’s perspective, a tale of gradual decline in service. Kent and Sussex Security has used the company as key supplier of CCTV products since 1996 and always been “a fan”, says MD Geoff Hilton, largely on the strength of technical support and customer service. “Unlike other…

Norbain Group has struggled with consecutive pre-tax losses for the past five years – interrupted only by its financial performance in the year ending 30th April 2010. In 2007 it lost nearly £11m, followed by £11.7m in 2008. The pre-tax loss in 2009 was £98.8m, though in 2010 a £114.3m profit was recorded on the…

Norbain’s take-over by Newbury feels like a major seismic event – but is it really? Even as speculation spreads about who the big losers might be – and who stands to gain – there is another, more cynical view, that in a few months not much will have changed. The story so far: Norbain goes…

The security industry was left reeling yesterday as news spread that Norbain SD, one of Europe’s largest distributors of CCTV, IP video, access control and intruder detection equipment had gone into administration and been sold under a ‘pre-pack agreement’ – a controversial move that’s sparked criticism. The story has had over 4000 hits since it…