Buyers are being sought for a 180 year-old Scottish printing firm that has filed for administration.
The future of the 71 staff of Woods of Perth remains unclear following the appointment of administrators. The company had a £6 million annual turnover and had reportedly grown successfully in recent years, aided by its good reputation among its customers.
Laurie Manson and Bruce Cartwright, of PricewaterhouseCoopers, have been made joint administrators of the company. Manson said the economic downturn had been particularly hard on the demand for the high-end products the firm provides.
"Recognising these challenges, the management had implemented a number of strategic steps and had recently expanded its customer base," she said.
"Unfortunately, this move has come too late to ensure that the anticipated overheads of running its custom-built plant could be met from a lower volume of turnover."
The administrators anticipate continuing with trading while a buyer is sought, and encouraged any interested parties to contact them.
Norman King, the regional office for workers' union, Unite, described the situation as an "absolute tragedy for the area."
"We are hoping that it can be turned into a going concern," he said. "It's a devastating blow for the local area and a long-established, family-run business."
