Rogue trader
Unauthorised speculation in foreign currency trading has cost Sweden’s Electrolux £18 million.
An employee in the German section of the company that manages the group’s internal finances began speculating last year. To cover his losses he increased his risk taking to the point where he could hide the deficit no longer. Electrolux said it would centralise all its forward contract business in its treasury department in Stockholm.
Factory closure
Corporate clothing business, DCC has said that, as an autonomous division, it will be relatively unaffected by its parent group Dewhirst’s plans to close two UK factory sites. The sites concerned are a one factory site at Winsford, Cheshire and a three-factory operation at Peterlee, Co Durham.
If the closures go ahead, production will transfer to Dewhirst’s overseas sites.
Man with a van
Mr K Wilson of Scorton near Preston has worked in the laundry industry for many years. He has produced a model of the Morris LD van in the 1960 livery of Lakeland Laundries. He would like to hear from other enthusiasts as he plans to produce a further batch of models selling for around £26.00. Contact Mr Wilson on Tel: 01995 605307.
Net business Drycleaner can put their details on to a website for wedding organisers by subscribing to the Wedding Circle website; www.weddingcircle.co.uk.
It is a directory for brides and wedding organisers sorted into 60 geographical areas and containing details of suppliers and services that a bride will need. Tel: 020 7642 1113 or email: info@weddingcircle.co.uk.
