While all the news has been about the actual robbery and the losses likely to be suffered by the deposit box holders very little or anything has been written about the company itself. This company was entrusted with the safekeeping of £millions of valuable including the substantial stock of many local businesses.
One would have thought that these deposit box holders might have looked at the ownership and financial strength of the company who they were placing their valuables. Remember these valuables sometimes represented a lives work or the whole stock of a business.
A simple enquiry at Companies House
These accounts are for a small business. The fixed assets total £161,210 which include a revaluation reserve of £150,000. The net current assets figure is £52. If we remove the revaluation reserve of £150,000 the company is worth £11,262. The financial information available would not persuade me to place my life savings with them.