Grantham’s Viking Signs cuts costs after revenue dip due to Amazon slowdown

A long-standing business has announced a package of cost-cutting measures following a recent downturn in revenue due to a drop in Amazon orders.

Viking Signs Ltd, which has been based in Grantham for nearly 40 years, reported that a “significantly reduced” volume of Amazon sales, which had been strong for seven years, has affected revenue since April.

Although the business still supplies Amazon, the volume has drastically decreased.

Managing director Darren Joint said: “For the last seven years, Viking Signs has benefited from growth, largely driven by the manufacture and supply of products for resale to Amazon.

“Unfortunately, for reasons as yet undisclosed by them, this ceased in April 2024.

“We're still supplying products to Amazon, but in significantly reduced volume, and this has impacted sales revenue.”

The team has implemented cost cuts to secure the business’s future while seeking new partnerships for safety signage. It did not reveal what the cost cutting measures were.

However, Mr Joint acknowledged this would take time.

“I'd like to offer my thanks to all of the Viking team for their loyalty and support to make this possible,” he said.

The Grantham business owner remains optimistic about its prospects despite the current challenges and continues to adapt to evolving market demands.

“Thanks also to your readers and our fellow Grantham businesses for their interest and concern for our prospects,” said Mr Joint.

“Many businesses go through 'ups and downs' and although this is our first significant 'down', we're taking action and working together to ensure we're stronger and ready for the up.”

Viking Signs was started in 1986 by Ron Gray.

Simon and Michele Joint, bought the business in 1997.

Darren joined the business in 2006 before becoming managing director in 2007.

The company won Employer of the Year in the Grantham Business Awards in 2016 - the year it celebrated its 30th anniversary - and has also sponsored the event in years gone by.

Its honours have also included being named the MAKE UK Midlands and East SME of the year.