While no formal statement has been issued by the company announcing the closure, a bankruptcy auction of plant equipment and assets has just ended. There is no word on the fate of plant workers or possible disruption for customers and the company did not respond to several requests seeking comment.
As a matter of background, QOL Fi acquired Vogue Trading Video (VTV) of Belgium from Roularta Media Group on April 1, 2009, which then became QOL NV. At that time, VTV had 100 employees and occupied a 10,000 square metre (roughly 108,000 square feet) facility, which could replicate as many as 200,000 CDs and 100,000 DVDs per day. It also housed a production unit that printed optical disc packaging including box sets, inlays, leaflets and Digipacks, to the tune of over 5,000 per hour. As part of the purchase, QOL signed an exclusive CD, DVD and Blu-ray supply contract with Roularta. Financially speaking, VTV generated €11 million (US $15 million) in sales while the larger QOL employed 150 staff and had revenue in the neighbourhood of €18 million (US $25 million).
Currency conversion as of Sept. 12, 2011.
For more information visit: www.qol.fr