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BDC restructures following £2.5m investment

Published: 6 November 2009
Future looks bright for North London-based electrical distributor, as it's given opportunity to expand with new openings and increased workforce.
BDC restructures following £2.5m investment
Following a series of name changes and a 'temporary administration' during the past few months, BDC 2008 is trading once again. The company, known for its Micromark and Coolzone brands, is also keen to expand operations following significant further investment from one of its existing shareholders, Eamonn Swift.

Mr Swift has ploughed £2.5m into the business, allowing BDC to appoint four new area sales managers and plan a number of new openings. Earlier this year, BDC managing director Jeff Moody led a management buyout to save The British Distributing Company, also known as Bridisco, after it went into administration in November 2008.

The company recommenced trading in January under the new name BDC 2008 after directors Jeff Moody, Ray Taylor and Steve Gallagher approached the administrators with their business plan.

Mr Swift's investment is a welcome opportunity in the current economic climate, admitted Mr Moody, and has also enabled the company to sign a new three-year lease on its 116,000sq ft headquarters in White Hart Lane, North London - a commitment BDC would not undertake, explained Mr Moody, if it was not sure of it had a "rosy future".

In recent months, the company has had two name changes and called in administrators again on October 28. However, the restructuring of the company in this way was necessary, explained Mr Moody, in order to secure Mr Swift's investment and make him majority shareholder of BDC 2008. He was also keen to stress that the company does not "owe a penny" to any of its suppliers as a result of the latest move.

The company has since opened a new distribution centre in Broxburn, West Lothian, Scotland and has plans to open two further branches, one in the north of England and the other in Belfast. The recent activity has also seen BDC increase its workforce with 10 new members of staff.

Mr Moody commented: "It's a great opportunity for us. We've had great support from the independent trade. We have focused on serving the independent sector for the last 48 years and it is a philosophy we plan to continue with in our new business model."

Of its five centres within London, BDC 2008 plans to move its Croydon branch to new local premises in January 2010, with the same plan for its Beckton centre in March.

Comments

Published prior to March 2014
By Paul Murray
Are the BDC plans still the same now that Jeff Moody, amongst others, have departed BDC???
Published prior to March 2014
By Chris
We lost thousands due to the BDC failure and the new BDC washed their hands of it. Even now returns do not get honoured by the new company.
Published prior to March 2014
By John Ainsworth
Didnt think they would last in this climate but I have to say that after a difficult start these boys seem to be pulling it round - its getting busier and busier every time I go in - good to see that in these difficult times. Would hate to see them fail - probably the most helpful supplier I have. Keep it going lads.

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