DVD and CD maker in administration
Britain's largest DVD and CD maker went into administration today, affecting 157 jobs days before Christmas.
Video Duplicating Company (VDC), which supplied all the major supermarkets as well as independent retailers, has fallen victim to the expansion of the online market to provide film and music content.
The move saw 105 employees made redundant with 52 kept on at sites in Wembley and Park Royal in London to help manage the closure process and disposal of assets.
Founded in 1982, VDC was seen as a pioneer during the early years of CD and DVD production, but over the past decade faced a steady decline in income due to the rise in digital formatting and online storage.
Administrators from FRP Advisory were appointed after the company's directors failed to secure new investment or a buyer for the business as a going concern.
At its peak VDC was producing and sending out 400,000 DVDS and CDs a day.
FRP Advisory partner Glyn Mummery said : "Sadly the demise of all these formats has been equally rapid as the world has moved at an even faster pace online thanks to the digitisation of all forms of content.
"VDC was one of the last big replicators to survive that change to digital formatting but there is only so long a business can continue to trade when its core market shrinks and changes beyond recognition."
Any staff paid in arrears received their November pay in time for Christmas, while any December pay will be paid out through claims to the Redundancy Payments Service, which typically takes four to six weeks.