Thu, 20 Aug 2015 | ADMINISTRATION
A printer based in Swindon has entered administration, less than a year since it made its last acquisition.
Multisets appointed administrators from Mazars last week (13 August) and while the 40 staff working at the firm have been made redundant, the business itself will continue to operate at a lowered capacity as a buyer is sought.
Tim Ball, insolvency practitioner and joint administrator from Mazars, told Print Week: “It is very sad to see another long-established printing business struggling to compete, and trade profitably, in the declining print market.
“A number of redundancies have already taken place, however the company continues to trade on a reduced basis and the administrators are actively seeking a buyer for the business and assets.”
He added that he is hopeful that the established nature of the business will mean a buyer can be found.
The company was established in 1962 and last operated with a turnover of around £5 million. Its business has a strong focus on bespoke cheques for banks, schools and solicitors and it incorporates anti-fraud features into the printing of these.
Among the machinery operating in its 3,250 square metre premises are Rotatek, Morgan and Xerox presses and a Tamarack card mounting machine. It is not known if these have been sold on as yet or if the focus will be on selling the entire business if possible.
View other businesses in administration.
A specialist care group providing care and support for service users with Learning Difficulties and Challenging Behaviors.
FREEHOLD
Opportunity for an acquirer seeking a recently vacated care home with historic registration for service users with learning disabilities.
FREEHOLD
Presenting to an industry acquirer seeking three established nursing/care homes located in West Yorkshire, this significant revenue generating operation is available on a freehold basis.
FREEHOLD
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.