Thu, 25 Jul 2013 | ADMINISTRATION
Baker Tilly has been drafted in to printer business Alpha Media Solutions, after it encountered difficulties.
The Bradford-based business had tried to reinvent itself after being faced with trading difficulties but failed after suffering untenable cash flow problems.
With the 61-strong workforce made redundant, the administrators Adrian Allen and Lindsey Cooper decided the best course of action was to close the business down.
Mr Allen reviewed current events: “The directors have taken steps to attempt to restructure the company’s cost base buy difficulties in obtaining credit lines with suppliers has meant that the business in its current format is no longer viable.
“Regrettably, there is very little in the way of work in progress to complete and given the business is currently loss-making we have taken the decision to crease trading and make employees redundant.”
The administrators are now working to sell the company’s business and assets.
Alpha had pinned its hopes on a new operation making pocket-sized fold-out promotional leaflets last year, with the managing director, Ian Whitfield, saying the market for ‘convenient media’ products was huge with several uses such as maps, guides, and product information.
A chartered accountant, Mr Whitfield, and a venture capitalist partner had bought the business in 2006, and had hoped that the new direction would create new jobs.
Contact the administrators here
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