Fri, 14 May 2010 | ADMINISTRATION
G&H Web Offset, the printing subsidiary of the G&H group, has entered administration after what bosses said has been an "extremely tough" two years.
The company temporarily laid off all 36 staff last month, anticipating bringing them back on 12 May. Administrators were called in on May 11, however, and the Liverpool plant has ceased operations.
Stephen Clancy and David Whitehouse, of MCR, have been appointed as joint administrators and are seeking buyers.
G&H bosses said administration was unavoidable as they were about to start losing £150,000 a month and could not enact any workforce reduction plans.
Managing director, Earl Hawley, said: "It is with great regret that we have had to take this action and, apart from the loss of jobs, we are also mindful of the losses to our suppliers.
MCR will hold a meeting with staff and union representatives on Tuesday to discuss the future. A business for sale notice issued last Tuesday revealed the company had a turnover of £10.2 million in 2008 and £7.7 million in 2009.
Unite officer, Alison Jones, said: "Members have given everything to the company and obviously, for us, the best case scenario will be for a buyer to be found.
"However, the administrators have given us assurance that if it does close on Tuesday, employees will be able to claim unpaid wages for the two weeks they didn't work."
G&H's other companies, including G&H Sheetfed and G&H Mail, are unaffected.
The company is a provider of residential care homes for young people with behavioural, emotional, and social difficulties resulting from early childhood trauma and adverse life experiences. Services provided by the business are flexible and dynamic,...
LEASEHOLD
Specialist and well-established family and private client solicitors’ firm in East London looking for a sale.
This is an exceptional opportunity to acquire a well-established carpet and flooring retailer with a solid reputation and a loyal customer base. Located in a prime area with strong foot traffic, this business has become a trusted name in the local co...
LEASEHOLD
28
|
Nov
|
Powertrain specialist Lancereal drives forward with MBO | MBO/MBI
A four decades strong powertrain specialist has undergone a ...
27
|
Nov
|
Debt collectors BPO take out loan to buy rival | BUSINESS SALE
Ayrshire-based debt recovery firm BPO Collections has receiv...
27
|
Nov
|
Brighton i360 looking for new owners | ADMINISTRATION
The company behind Brighton’s i360 viewing pod has fil...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.