AFTER 23 yearsin operation, Ideal Agencies/Ideal Office Supplies, a leading business supplies company, is shutting down.Managing director William Lambert told the DAILY NATION yesterday that 34 employees would be affected.He said one branch which was located at Sheraton Mall closed two weeks ago, while operations were winding down at the main store at Warrens, St Michael. The business will officially close at the end of this month.“We are in the process of liquidating the company. We have seen hard times and there were other issues. We are now trying to sell off our inventory and assets to pay our debt to the creditors.”An emotional Lambert recalled how he started Ideal Agencies as a very small business, expanding over the years and included the retail section eight years ago.
The company sold office supplies, computers, egronomic furniture and accessories and outfitted entire offices.“This is very unfortunate especially for the staff, some of whom have been with us since the beginning. It is so upsetting because they were like family. “They helped to build this company up and they don’t deserve this but it is one of these situations which has affected a number of companies. They are finding themselves faced with financial problems and having to make tough decisions.”Lambert said he never expected that his company would have reached this stage even though there were signs of trouble from last year.“We fought through last year and we asked the banks and different entities to bear with us. But when the banks started putting pressure on us we had to make certain decisions,” he said, adding that it was not “outright a bank forced issue”.He said the court had appointed a trustee and the company was working with the individual to liquidate its assets.“We are liquidating our assets but we have not filed for bankruptcy,” he explained.Lambert said he was also trying to find placement for the affected staff and focusing on what was happening now.DAILY NATION understands that another major office supplies company was also closing at monthend, however up to press time the report could not be confirmed.Last week it was reported that NSR Limited, the business in which Julie N’ Supermarket founder Neville Seymour Rowe has a substantial stake, was in receivership.
