Mon, 13 Feb 2012 | ADMINISTRATION
Belfast printing firm, Northern Whig Limited, has gone into administration, according to reports.
The BBC reports that the firm ceased trading last week and made all of its 21 members of staff redundant. The Northern Whig, founded in 1824, was one of Ireland’s oldest newspapers and was printed continuously until it closed in 1963.
The name was kept on and the firm operated as a commercial printer with a specialism in digital and lithographic printing and design. Administrators say they are now looking into finding a potential buyer for the firm, once its financial situation has been clarified.
Stephen Cave, Joint Administrative Receiver, said the company's trading position had deteriorated due to a declining turnover.
He told the BBC, "Despite the efforts of the directors to secure a way forward for the business, cash flow pressures led to the business ceasing to trade last week, with all employees being made redundant.
He added, "Since our appointment our immediate objective has been to determine the precise financial position of the company, and to examine potential sale opportunities."
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