Receivership & administration

Royal Mail has closed its iRed document management subsidiary after it failed to turn around its 9.9m 2010 net loss into a target break-even position by the end of the current year.

Print industry credit information specialist ICSM is offering a reduced rate on credit checks to members in November.

The administrator for Midas Press has said that the company's inability to react to financial difficulties led to 72 employees losing their jobs.

Thomson Litho has gone into administration, less than a month after the company's Czech owners GZ Digital Media took the decision to move print manufacturing abroad, with the loss of 60 jobs.

The number of companies in the print and packaging sector reporting financial problems has decreased year-on-year, according to the latest statistics from Red Flag.

GPV Group, the French parent of UK manufacturer Heritage Envelopes and its subsidiary Chapmans, has been bought out of administration by German envelope group Mayer Kuvert.

Farnborough printer The Midas Press has gone into administration and is understood to have closed its doors.

The disposal of equipment from Pindar's Preston plant has raised more than 2m through private sale and an online auction.

Glasgow stationery printer and office supplies business John McCormick & Co has gone into receivership with loss of 40 jobs.

After a tumultuous few years that saw it work its way through administration and divest itself of a key investor, Bryan Palphreyman, new head of Nipson SAS US and UK operations, said the company is...