Receivership & administration

The future for Manchester Printers Group is unclear after the former owner of one of its string of acquisitions was forced to buy his business back out of administration.

A YM Group newspaper industry client was a major creditor of its failed web division, Printweek can reveal.

Three bids were made for Screaming Colour before Pureprint was successful with its six-figure offer for the firm’s box making division.

Deltor has taken on two staff from shuttered litho and digital firm Pepper Communications, with a third also offered employment.

Documents filed by the administrators of Complete Business Solutions (CBS), which was acquired in a pre-pack deal last month, have revealed the huge sums owed to creditors.

Gecko Direct has gone into administration, with its business and assets subsequently acquired by Charlesworth Press.

Crown Van Gelder has been rescued and will restart production imminently, on the back of a substantial eight-figure fresh investment.

The managing director of Pepper Communications has outlined the reasons for the liquidation of the business, following the creditors meeting this morning (10 February).

Pepper Communications is poised to appoint liquidators later this week.

A number of interested parties have visited Crown Van Gelder sparking hopes that the mill could be rescued and restart production in the near future.