Mon, 11 Mar 2013 | ADMINISTRATION
Printing firm Synergie Group has been placed into administration after its company voluntary arrangement failed.
Daniel and Simon Plant of SFP have been brought in to act as the administrators to the business, which is based in Basingstoke.
Synergie Group was formed by the acquisition of digital printing firm Web2Print, and went on to purchase Basingstoke Press, Kingston Classic Calendars and Shire Business Solutions, among other businesses, between 2007 and 2010.
By 2011 its services had expanded to range from design and marketing, print, packaging, storage, direct mail, data management, promotional items and fulfilment.
Simon Plant told Insider News, “The print industry has been in continual decline in recent years. This is partly due to the current economic climate but also due to substantial competition from Eastern Europe and the Far East as well as an increase in online usage.
“Unfortunately, Synergie Group plc experienced the additional effects of a number of customers struggling to pay its debts as they fell due. We have successfully negotiated a sale of certain parts of the business and buyers for the remaining tangible assets are being sought.”
Synergie Group also operates from sites in Solihull, Newbury, Plymouth and Lymington.
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