Fracino, a multi-awarded coffee machine manufacturer, has reported that burglars almost stripped the company’s warehouse of its contents from late Tuesday night to early Wednesday morning, according to the BBC and local news reporters.
The Birmingham-based coffee machine manufacturer reported a loss of at least £300,000 (US$352,000), with some news sources reporting a loss of up to £500,000 ($587,000). The West Midlands Police is already investigating the burglary of coffee machines and grinders at the company’s warehouse next to its factory.
The stolen equipment was supposed to be shipped to South Africa, Canada, Singapore, Dubai, Australia and other countries. Chairman and founder Frank Maxwell said that the theft was “a real bad hit,” and it would take months to recover.
CCTV cameras revealed that a gang of four used a lorry stolen from a bed company. They filled it with pallets worth of coffee equipment, which they took from the warehouse using Fracino’s own forklifts. One truck didn’t seem enough as towards the early morning, another lorry pulled in.
The problem is not only the missing equipment but also the rising cost of production. The insurance may cover the replacement cost, but the profit margin Fracino could have made would have been much higher since they purchased the machines before the pandemic at a much lower price.
All of those items are going to have to be made at a much more ridiculously high price, with a much closer profit margin for sure.Frank Maxwell, Founder, Fracino
This was the second time that the company had been targeted by thieves. After the robbery, the burglars used a fire extinguisher everywhere, most likely to cover some tracks. When the first employee showed up for work on Wednesday morning, the company found out about the burglary.
The company’s ability to cover the loss is not certain, and it has put some uncertainty over employees’ job security.
There’s a 60-person workforce there and they all depend on us making the right decision, and here we are, robbers have come in and have deprived the family of the employees of their livelihood, and of course, they’ve (the burglars) affected the company.Frank Maxwell, Founder, Fracino