Decline
The company was losing money in the 1960s but remained under the control of the Salmon family, descended from a founding partner. Lyons began to close some of its London tea shops and hotels; in 1963 it also merged its LEO Computers business with English Electric's computer interests to form the jointly owned English Electric LEO.
In 1964, Lyons sold their half-stake; and English Electric merged the company with Marconi's computer interests to form English Electric LEO Marconi Computers. A continuing problem in the British computer industry was both lack of investment capital and competition with the much larger U.S. computer companies, such as IBM. English Electric LEO Marconi Computers became International Computers Limited, (ICL), but ICL has now also disappeared as a UK computer company.
In 1978, Lyons was acquired by Allied Breweries and became part of the resulting Allied Lyons. It fell on hard economic times in the late 1980s; and was sold, eventually being broken up with its ice cream and ice lolly products, which were branded as Lyons Maid, being sold to Nestlé. Other parts that were sold off included Lyons Cakes being sold to RHM and ending up as part of their Manor Bakeries subsidiary which also makes Mr Kipling's Cakes and Ready Brek cereal ending up being owned by Weetabix Limited. At the end of 1994, Lyons sold its Lyons Biscuits Ltd. to Hillsdown Holdings, which later sold it to a U.S. investment firm which subsequently sold it to large biscuit manufacturer Burton's Foods Ltd..
The J. Lyons & Co. papers are now stored in the London Metropolitan Archives. The niece and nephew of the Gluckstein brothers were Hannah Gluckstein, a painter; and Louis Gluckstein, a Conservative politician.
Read more about this topic: J. Lyons And Co.
Famous quotes containing the word decline:
“The decline of the aperitif may well be one of the most depressing phenomena of our time.”
—Luis Buñuel (1900–1983)
“Our achievements speak for themselves. What we have to keep track of are our failures, discouragements, and doubts. We tend to forget the past difficulties, the many false starts, and the painful groping. We see our past achievements as the end result of a clean forward thrust, and our present difficulties as signs of decline and decay.”
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On gangling stocks grown great, great stocks run dry,
Ancestral pearls all pitched into a sty,
Heroic reverie mocked by clown and knave....”
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