216/8 Rowan Road
Listed in the 1930 commercial directory as Marco Refrigerators (1929) Ltd. refrigerator mfrs. Rowan rd. Trading As ” Fridgettys, Phone, London; ” T N Pollards 1141
Mitcham News & Mercury 13th January 1961, page 1
WORKERS FEAR FOR THEIR JOBS
THE 350 employees of Marco Refrigerators Ltd., in Rowan Road, Mitcham, were shocked to learn at the week-end that their company made a net loss of £51,795 last year.
This is in marked contrast to the previous year when a profit of £32,539 was made.
Many of the workers have been asking among themselves: “Will this mean some of us will lose our jobs?”
The management refused to comment this week. but it seems reasonably certain that wholesale sackings will not take place. Shortly before Christmas 29 were laid off because of the drop in orders, but none has been dismissed since.
TRADE IMPROVING AGAIN
it is understood that trade is once again improving and according to sales representatives, will continue to go up.
The firm, which makes refrigerators mainly for industrial
and commercial use – a large part of their output goes overseas – gives two reasons for the 1960 loss.
Firstly, the Governments credit squeeze, including the hire purchase restrictions.
Secondly. the need to sell many of their goods at little or no profit to meet “cut-throat competition” in spite of increased material and labour costs.
EVERY STEP HAS BEEN TAKEN
An official statement by Marcos adds: Every possible step has been put into operation by the directors to rectify the position.”
No one at the company would enlarge on this statement.
“We can say nothing at this stage,” a spokesman said.
Marco Refrigerators are not alone in their poor financial result.
Many other refrigerator firms have been similarly hit.
Listed in the Borough of Mitcham List of Factories,
Town Clerk’s Department,
Available at Merton Heritage and Local Studies Centre at Morden Library.
Reference L2 (670) MIT
Maps are reproduced with the permission of the National Library of Scotland.