[access-uk] Re: TVonics in administration
- From: Tristram Llewellyn <tristram.llewellyn@xxxxxxxxxxxxxxxxxxx>
- To: "'access-uk@xxxxxxxxxxxxx'" <access-uk@xxxxxxxxxxxxx>
- Date: Mon, 18 Jun 2012 13:10:31 +0000
So TVonics is definitely in administration albeit for the second time.
Regards.
Tristram Llewellyn
Technical Support
Sight and Sound Technology
-----Original Message-----
From: access-uk@xxxxxxxxxxxxx [mailto:access-uk@xxxxxxxxxxxxx] On Behalf Of
tony scanlon
Sent: 18 June 2012 14:03
To: access-uk@xxxxxxxxxxxxx
Subject: [access-uk] Re: TVonics in administration
Sorry meant to say it wasn't the first time they had gone into
receivership but didn't mean to send the previous post sorry
On 18 June 2012 13:59, tony scanlon <turrots@xxxxxxxxx> wrote:
> TVonics acquired and strongly financed by UK Company
>
> --------------------------------------------------------------------------------
> Just to provide clarification and not meant to be a thread which
> requires comments. Many UK jobs are secured by TVonics and in the
> local econony. I feel the need to comment regarding the previious
> thread regarding the period of 1 week whilst TVonics was in
> administration, a legal process designed to assist companies refinance
> in cash liquidity difficulties.
>
> TVonics has essentially been refinanced by Contact Holdings as
> described below. So end users will continue to be supported and the
> product range of TVonics will be expanded to keep pace with new
> demands from the market with a particular focus upon HD (terrestrial
> and satellite) and broadband connectivity.
>
> Many small entrepreneurial start up companies endure cash flow
> problems as they grow quickly (we turned over £5.2M last year which is
> quite remarkable for a privately financed company to achieve this in 3
> years). Cash flow is usually the key cause of problems for fast
> growing companies and only rarely do companies encountering such
> problems manage to attract a buyer to preserve it, let alone expand
> the company. In the case of TVonics, the administrator was able to
> accept an offer from one of TVonics creditors (Contact Holdings) to
> secure the staff jobs and refinance the company to fund a new R&D
> programme which will deliver a new range of TVonics products ready for
> HD roll out across Europe and the UK.
>
> Myself and Andy have been rehired and we are just as committed as we
> ever were to make TVonics a UK success story. We firmly believe
> Britain has great talent in Engineering and Marketing. We are looking
> to hire great engineers, marketeers and support staff. So here is a
> great opportunity to be play a part yourself even.
>
> Probably not many people know this, but TVonics Limited was initially
> self funded by myself (sold my property) and later on after he joined
> Andy mortgaged his house as well along with many months where we the
> two founders drew no salary. We set about to create a company which
> could produce very well respected products in the Freeview market and
> compete with major established brands.
>
> The Logik LDR V3 (TVonics MDR-300) which TVonics designed and
> manufactured is rated as the easiest to use Freeview STB by
> Ricability. The earlier Logik LDR V2 is rated by Which as best
> Freeview box. We were first to market with Energy Savings Trust
> approved STB and DTR. first to market with Freeview Playback dual
> tuner DTR, first to market with a small Freeview adapter for TVs
> without SCARTs (MFR-200), exclusively selected to supply STBs and DTRs
> for Whitehaven help scheme digital TV switchover and first to market
> with affordable Audio Description Freeview receivers and recorders.
>
> From a team of 4 to now 23 people and growing, the dedicated team of
> engineers and staff at TVonics have all worked very hard over three
> years to deliver a strong highly regarded product range. Its a credit
> to their dedication and enthusiasm that TVonics achieved as much as it
> did and will achieve even more in the future. No one believed at the
> time of its inception that we could achieve as much as we did in such
> a short time without VC finance or significant grant aid, but we did.
> We had strong technology and business partners who believed and
> continue to believe in what TVonics set out to achieve.
>
> In the fullness of time when I can, I will document and praise the
> many organisations whom without their help and assistance we could not
> have achieved as much as we did. You all know who you are and I thank
> you.
>
> Our aim was and is to produce easy to use, energy efficient, reliable
> products and offer the choice to the British public to buy British if
> they wish to. In an age where many of us are concerned about carbon
> footprints, the ability to purchase locally produced products is
> increasingly being demanded. Yes agreed, they may be a little more
> expensive but who always wants to buy the cheapest products? My car is
> cheaper than yours? I have a really cheap pair of shoes? Cheapness is
> not what we are about.
>
> We may not always get everything right, but we always strive to
> produce products which will satisfy our customers.
>
> Today we have products which meet the European Code of Conduct for
> energy efficiency (sub 1 watt standby STB, 1.5W standby DTR). These
> are levels the UK government would like to see achieved by 2010. We
> did it in 2007!
>
> Right now though the task in hand is to support our end user customers
> (you), deliver Freeview Playback Group 2 and HD solutions for the UK
> and European markets. Thanks to all of our loyal band of customers who
> like and continue to use our products.
>
> TVonics remains a British company with the ability to manufacture
> products both in the UK and in Europe.
>
> Over the 3 years it has been running, a total of almost 90 UK jobs
> have been created internally and within subcontractors and partners to
> develop and produce TVonics products.
>
> Best regards and thanks again to all who have supported TVonics and
> for your continued support.
>
> Paul Fellows
> TVonics Solutions LImited.
>
> --------------------------
> Press Release.
>
> 29th February 2008
>
> TVonics bought by Contact Holdings
>
> Leading UK designer and manufacturer of
> easy to use, energy efficient
> Digital TV Receivers and Recorders acquired.
>
> 29th February 2008. TVonics, the UK based digital TV set top box
> company has today been acquired by the Contact Holdings Group which
> specialises in contract manufacturing, product packaging and supply
> chain management.
>
> TVonics has in just over 3 years, rapidly established a position in
> the UK market as a premier brand of quality Digital TV receivers and
> recorders sold through leading UK retailers. TVonics products are
> renowned for their ease of use and energy efficiency. The acquisition
> by Contact Holdings, transforms a small entrepreneurial start up
> company into a solidly financed consumer electronics company capable
> of responding to the exciting opportunities presented by Digital TV
> switchover and transition to HDTV in the UK and throughout Europe.
>
> Contact Holdings intends to continue manufacturing and supporting the
> TVonics range of Freeview receivers and recorders servicing the
> existing retail customer base. In addition, the TVonics range will be
> extended to address the emerging strong market demand for High
> Definition TV reception for Terrestrial, Satellite and Broadband
> networks across Europe and the UK.
>
> Contact Holdings commented “The acquisition of TVonics represents an
> exciting development in the growth of Contact Holdings. We are
> delighted to be able to apply our supply chain expertise and financial
> strength to extend what has already been a great UK success story. We
> are committed to make TVonics a leading European supplier of quality
> consumer electronic products.”
>
> Paul Fellows of TVonics said that “With the financial strength of the
> Contact Group behind us, we can now invest in enhancing our existing
> products and commencing the development of a new generation of High
> Definition MPEG-4 based Digital TV products. We are recognised in the
> UK market for offering easy to use, energy efficient and reliable
> digital TV receivers and recorders. Now we can look forward to
> offering these core brand values to TV viewers across Europe.”
>
> TVonics Solutions Limited, a wholly owned subsidiary of Contact
> Holdings has been established as the legal and trading entity and now
> owns all the Intellectual Property developed by TVonics Limited as
> well as all branding and trade marks.
>
> About Contact Holdings:
>
> Contact Holdings based in Stockport, Cheshire owns a number of
> companies engaged in total supply chain management, manufacturing and
> FMCG packaging for its Global customer base. With its presence and
> infrastructure across Europe, together with its supply partners and
> strong management team, Contact Holdings intend to maximise the true
> potential within the TVonics brand and product range, exploring new
> routes to the customer with market leading innovations and agile
> supply chain solutions.
>
> For further information regarding TVonics Solutions Limited please contact:
>
> press@xxxxxxxxxxx
>
>
>
> On 18 June 2012 13:31, Richard Godfrey-McKay
> <richard@xxxxxxxxxxxxxxxxxxx> wrote:
>> John, that is more the job of a liquidator. There may be some faint hope,
>> if the company is worth saving, that someone will buy it.
>>
>>
>> Richard Godfrey-McKay
>>
>> Telephone: 01738-445 880
>>
>> Mobile: 07791 452 593
>>
>>
>>
>>
>> -----Original Message-----
>> From: access-uk@xxxxxxxxxxxxx [mailto:access-uk@xxxxxxxxxxxxx] On Behalf Of
>> john coley
>> Sent: 18 June 2012 13:24
>> To: access-uk@xxxxxxxxxxxxx
>> Subject: [access-uk] Re: TVonics in administration
>>
>> Hi Mark, it means they're broke effectively. The job of an administrator is
>> to decide who gets what, if, that is, there's anything left.
>> John.
>>
>> ----- Original Message -----
>> From: "Mark Magennis" <Mark.magennis@xxxxxxx>
>> To: <access-uk@xxxxxxxxxxxxx>
>> Sent: Monday, June 18, 2012 12:37 PM
>> Subject: [access-uk] TVonics in administration
>>
>>
>>> This is confirmed on the TVonics website. At the bottom of the home page
>>> it says "Gary Bell of Bell Advisory Llp was appointed administrator to the
>>
>>> company on 12th June 2012. The affairs, business and property of the
>>> company are being managed by the administrator who acts as an agent of the
>>
>>> company and without personal liability. Any person with an enquiry
>>> regarding the company's affairs should write to Bell Advisory Llp".
>>>
>>> I assume this is very bad news, but what does administration mean in
>>> practice?
>>>
>>> Mark
>>>
>>> On 18 Jun 2012, at 12:17, william lomas wrote:
>>>
>>>> such a shame
>>>>
>>>>
>>>> Begin forwarded message:
>>>>
>>>>> From: Justin <justinmacleod@xxxxxxxxxxx>
>>>>> Subject: (TAFN) the talking freeview recorders everyone's been talking
>>>>> about
>>>>> Date: 18 June 2012 12:08:11 GMT+01:00
>>>>> To: <tafn@xxxxxxxxxxxxxxxx>
>>>>> Reply-To: tafn@xxxxxxxxxxxxxxxx
>>>>>
>>>>> Hi,
>>>>>
>>>>> As many of you will be aware the RNIB proudly announced its
>>>>> collaboration with Tvonics to provide us with talking freeview
>>>>> recorders. However, I spoke to someone associated with the company today
>>
>>>>> and learned that the company has gone into administration. Obviously
>>>>> this means stock levels are falling fast and stand a good chance of
>>>>> never being replenished. Therefore anyone interested in purchasing one
>>>>> of these Freeview recorders would be well advised to contact the RNIB
>>>>> soon. From what I could understand, though I could be mistaken, the
>>>>> stock held by Tvonics itself is already spoken for unless that order
>>>>> falls through.
>>>>>
>>>>> This is a great shame and I hope the information is useful.
>>>>>
>>>>> Thanks,
>>>>>
>>>>> Justin
>>>>
>>>
>>>
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