UK’s largest independent printer Polestar enters administration

Thu, 28 Apr 2016 | ADMINISTRATION

The UK’s largest independent printing group Polestar has entered administration after Daily Mail publisher DMG Media decided to end its contract with the company.

Polestar had been suffering with the decline of newspaper and magazine sales in the UK and cited cashflow problems and £100 million in outstanding debt among its main reasons for collapse. The Polestar group was seemingly rescued last month when it was purchased by Preventus Capital Partner. However, DMG Media has subsequently said that it would not being renewing its contract under the new owner.

Before entering administration on Wednesday 27 April, Polestar printed more than 50 million units per week, including magazines such as Hello!, Grazia, Cosmopolitan and the Radio Times.

The search is now on for potential buyers, with Zelf Hussain and Peter Dickens of PricewaterhouseCoopers (PwC) being appointed as joint administrators. Mr Hussain said: “We believe there is a strong underlying business within the group and we are focused on doing all we can to preserve value and maintain the business while we look to achieve a sale.

“We would welcome a dialogue with all interested parties and ask that suppliers and customers work with us to try to deliver a lasting solution for the business.”

Find solvent printers for sale at Business Sale Report.

Find other printers that have entered administration


Share this article



Latest Businesses for Sale

Indoor Trampolining Adventure Park
Telford, Shropshire, West Midlands, UK

Indoor trampoline park offering a wide variety of activities including, dodgeball, battlebeam, jump tower, interactive wall, bouldering wall, inflatables, Ninja warrior, basketball, toddler area, mini football pitch, dance school, tricking classes, s...

Asking Price: £950,000
Turnover: £1,000,000

LEASEHOLD


Assets of a Removal Company (Fast Sale)
UK Wide

Viewing: Thursday 23 May 2019 between 9am and 12 Noon. (By appointment only). Closes From 12 Noon Tuesday 28 May 2019.

Asking Price: Offers Invited
Turnover: < £500k

Recruitment Agency
UK Wide

Formal offers for the business as a whole to be received no later than 12 noon on Friday 24 May 2019. An opportunity exists to purchase the business and assets of a Recruitment Agency Start-up Business.

Asking Price: Offers Invited
Turnover: £381,186


View more businesses for sale

News Search

Latest News

 
17
 
May
 

Greater Manchester staffing firm acquires security services company | BUSINESS SALE

A security services business headquartered in Newton-le-Will...

 
16
 
May
 

Midlothian IT company enters administration with assets up for sale | ADMINISTRATION

An Edinburgh-based IT firm has collapsed into administration...

 
15
 
May
 

Logistics recruiters and distributors snaps up Birmingham-based counterpart | BUSINESS SALE

Challenge TRG Group, headquartered in Wigan, has successfull...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources