Issued: 21 December 2007
Angus Digital Media Centre to Close
Angus Digital Media Centre (ADMC) is to close in March 2008.
The board of ADMC was advised this morning that Angus Council wished to move to a managed wind-up of the company.
The decision was taken at the meeting of the full council last night, Thursday 20 December 2008, following consideration of a report outlining the company's failure to meet the financial targets set in September.
The decision to close was endorsed by the ADMC board at a special board meeting at the centre in Brechin this morning, following which the company's seven staff were informed.
Making the announcement Infrastructure Services convener David May said the closure was regrettable but financially necessary.
"Despite good results in its first four years the centre has unfortunately been unable to sustain the level of business required to continue trading viably," said Councillor May.
"The business has experienced trading difficulties during the past two years and despite the best efforts of the staff, ADMC board and the council it is now clear that there is no prospect of the centre being able to meet its financial targets for this year, or 2008/09.
"Angus Council has been working with the company to try to turn the business around but given the latest forecast we have, with a great deal of regret, had to take the decision to wind the business up."
Angus Digital Media Centre opened in October 2001 and currently employs seven staff. They have now been given notice that the company will cease trading on 31 March 2008.
ADMC aims to fulfill all orders currently on its books and will undertake any new business that can be delivered before the March deadline.
Commenting on the decision ADMC board chairman Councillor Bob Myles said: "It is deeply disappointing that the centre has been unable to sustain its earlier success. While the business expects some fluctuation in demand year on year we have now reached a point where the recovery needed to continue trading viably cannot be achieved.
"The board's priority now is to support our staff as we work towards a managed wind up of the business by the end of March next year."