Fri, 16 Feb 2024 | BUSINESS SALE
Wincanton Digital Print Limited, a Somerset printing firm, has been sold out of administration in a pre-pack acquisition. The Salisbury-based company fell into administration earlier this month, with Andrew Hook and Julie Palmer of Begbies Traynor appointed as joint administrators.
The company had been trading for more than 40 years and was a specialist in digital, litho, large format and prepress print. It fell into administration after struggling, like many printing companies, with challenging trading conditions over recent years.
The firm had previously entered administration after being forced to cease trading as a result of government restrictions during the COVID-19 pandemic in 2020, before resuming operations after a rescue deal was agreed.
However, more recently, the company has suffered a downturn in sales, while soaring interest rates impacted its debt. This forced the company’s directors to once again seek insolvency advice, with joint administrator Andrew Hook saying the decision to seek advice early had been crucial in securing a rescue deal.
Following their appointment, the joint administrators completed a pre-packaged sale of the business and its assets to Wincanton Creative Print, a subsidiary of the Remous Group Limited, in a deal that secures 16 jobs at the company.
Commenting on the sale, joint administrator and Begbies Traynor partner Andrew Hook said: “Although this business has encountered a series of financial challenges since the pandemic, it is clear that it has the ability to trade profitably with new backing.”
“Through a prepackaged sale, we have been able to allow the business to escape the burden of historic debts while maximising the value for creditors. We’re confident that the firm is now on a strong footing from which to grow.”
Remous Group Managing Director Alan Bunter added: “Wincanton Print has been a brand synonymous with print in the South West for over 40 years, but the landscape has changed since COVID and we are seeing consolidation throughout the industry.”
“I am pleased we have been able to save the jobs of the skilled team and bring them into the Remous Group of companies, they have a great reputation in commercial and wide format print with quick turnaround times. This complements our other production facility in Sherborne, with the changes we are making we expect to see it flourish for years to come.”
Find out more about the impact of 2021 reforms to pre-pack acquisition regulations
Confidential sale of a well-established lettings & estate agent in Leeds. The business has been trading for many years and has built up a fantastic reputation with hundreds of positive google reviews.
The business has been operating for over 20 years and has built up a fantastic reputation in their area. Boasting a portfolio of 700 and adding properties under management.
The company has traded for 16 years, based in the Northwest and operating nationally providing temporary staff to large corporate clients.
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.