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

Natural Stone Supply Company: Sourcing/Processing/Distribution
Aberdeenshire, Scotland, UK

This company specialises in supplying the highest quality natural stone products, offering a complete turnkey solution to its customers from sourcing, through to processing, design and final distribution and delivery. Offers invited.

Asking Price: £1,050,000
Turnover: £1,100,000

RELOCATABLE


Precision Engineering Business
North West, UK

Precision Engineering Business for sale operating with a modern, well equipped machine shop, offering Engineering Development Modelling (EDM), CNC turning & milling, grinding, boring and fitting. Offers invited.

Asking Price: Offers Invited
Turnover: £400,000

LEASEHOLD


Accountancy Business
UK Wide

High quality practice with strong middle management on the market for the first time. Established: 25 to 30 years. Strong middle-tier management to support acquirer throughout the transition period and on an ongoing basis. Locations: Cheshire, Mersey...

Asking Price: £1,300,000
Turnover: £1,300,000


View more businesses for sale

News Search

Latest News

 
20
 
Sep
 

Thomas Cook seeking 'last-ditch' fire sale | BUSINESS SALE

Thomas Cook Group is reportedly trying to piece together a l...

 
19
 
Sep
 

Smith & Williamson and Tilney to merge | MERGER

After revealing in August this year that talks were in place...

 
18
 
Sep
 

Infrastructure investment manager takes stake in LJLA | BUSINESS SALE

Infrastructure investment management group, Ancala Partners,...

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