Sunderland-based Edwardthompson will cease manufacturing at the end of March with the loss of around 50 jobs.
According to local newspaper The Chronicle & Journal, the family-owned business has been severely impacted by pandemic-related restrictions in its key markets.
Starting out as a small stationery printer in 1867 with a staff of 12 the business swelled to a major operation in the 1970s, employing more than 1,000, after entering the national newspaper bingo market.
Over the years its business has developed to offer bingo cards, all sorts of promotional games and merchandise, raffle tickets and direct mail as well as election ballot papers for countries around the world.
Speaking to the local paper, chief executive Paddy Cronin said the pandemic had resulted in the closure of bingo halls and a downturn in newspaper promotional games, resulting in the company’s decision to close its doors. He reported the business was in the process of organising new suppliers to take over its services and would be contacting customers directly with details.
He said: “Manufacturing will come to an end. The business was started with a bet in 1867 but our luck has run out.
“It’s a great shame. It’s horrible for all of us. Around two thirds of the staff have done more than 25 years of service - they are like family.
“Of our core markets, the bingo halls were closed for a year and even though they are now opening up again, around 15% to 20% of them don’t exist anymore because they’ve shut down for good.
“Unfortunately, Covid and other market conditions have negatively affected businesses and left us no option but to close. It is an end to a proud history.”
He added: “I would like to thank all our customers, suppliers and colleagues who have helped us over the years. We are privileged to have worked with you, and for you. I’m really proud of what we achieved.”
After a restructure in 2016, which saw Edwardthompson’s workforce halved, the business was bouncing back by 2019 and was looking to increase its then 67-staff workforce.
Following just one year of Covid-19 restrictions, however, the business reported a 49% drop in turnover to £2.6m (2019/20: £5.2m) in its accounts for the 12 months to 30 April 2021 and an operating loss of £658,473 (2019/20 operating loss: £358,922).
