The business – a name sake of St Peter Port’s De La Rue pub – is known for printing paper money during the Second World War and also developing the world’s first cash machine.
Based in the UK, it now employs 2,500 people globally and supplies cash to 140 central banks. The warning of its collapse was a worst case scenario, it said, but also added there was growing significant doubt about the group’s ability to operate. The Bank of England is one of the business’ clients, and while it is as-yet unclear what would happen if it collapsed, it is expected a rival would take over the role.
All is not lost for the historic business though, as yesterday afternoon it was announced one of the De La Rue’s largest shareholders, an activist fund, will be buying more shares. They said the news just reflected mismanagement in recent years.
Pictured: During the Second World War, the business printed money for occupied countries, which was kept in a quarry until the war was over.
Thomas De La Rue launched his first commercial venture in 1813, a local newspaper called Le Miroir Politique. Eight years later in 1821 he set up shop in London, making straw hats, and then moving on to producing stamps, stationary and railway tickets.
It was 1860 when the business printed its first paper money.
The business will always go down in American Philatelic history as it was the only producer of an American stamp not based in the country in 1862.
Pictured top: De La Rue bank notes. The business’ founder was a Guernseyman.