The company that prints the UK’s banknotes and currency for 140 other countries has issued a warning of possible collapse, saying there is “significant doubt” about its future.
The 198-year-old De La Rue has printed banknotes for the Bank of England since 1860. It is the largest commercial printer in the world, producing about a third of the world’s banknotes through contracts with 140 central banks. The firm has designed 36 percent of all banknote denominations in circulation, according to investment research company Edison Group.
De La Rue has been battling in the course of the most recent a long time since losing the £400 million ($525 million) UK identification agreement to a French opponent. It has likewise been hit by a quickening move away from money towards contactless card installments and online exchanges. Simply a week ago, the organization lost 20 percent of its worth.
“There can be no denying that De La Rue’s finances look shaky,” Russ Mold, venture chief at A.J. Chime, was refered to as saying by NBC News.
Up to 2,500 of De La Rue’s workers could be put in danger if the firm neglects to endure.