Fri, 13 Jun 2014 | ADMINISTRATION
A Telford-based printing company has entered administration, with 39 jobs being lost as a result.
Jill Sandford and Guy Mander from Baker Tilly have been appointed as joint administrators to Graphics and Print (Telford) Ltd, Insider Media reported today (13 June). The company, which operates out of the Hortonwood Industrial Estate, ran into financial problems after it lost a major customer contract.
The award-winning commercial printer and design firm was established in 1980 and provides business cards, web design, brochures, leaflets, posters, printing and graphic design. Its website has been taken offline but an advert on www.yell.com states the company had “an enviable client base which includes some of the largest global organisations, right through to local businesses and business start-ups”.
The company has now reportedly ceased to trade and 39 staff have been made redundant. The administrators say they have been contacted by interested parties about the possibility of acquiring some of the business’ assets.
Jill Sandford, a restructuring and recovery director at Baker Tilly, commented: "The loss of a major contract and the associated cashflow implications meant that administration was necessary in order to protect the remaining assets for the benefit of creditors.
"Regrettably, we have had to make 39 staff redundant, and our specialist employee team has been assisting them to make claims with the Redundancy Payments Office."
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