The company’s directors filed a Notice of Intention to Appoint Administrators (NOI) last week.
Printweek can confirm that James Saunders of KR8 Advisory and Gareth Wilcox of Opus Restructuring were appointed as joint administrators of the company on 21 February.
Watts has not responded to multiple requests for comment about the situation.
A source close to the company said the business was “in transition”.
Last summer TJ Books acquired the business and assets of Wakefield-based H Charlesworth & Co – which traded as Charlesworth Press – in a pre-pack deal just eight weeks after directors at the two firms said they were merging to form Fortis Print Group.
Padstow-based TJ Books produces limp and hardback books. It runs litho and digital presses and has its own bindery.
The business had sales of £15.4m in its most recent accounts, to 30 November 2023, and employed 145 staff.
Directors expected the Charlesworth buy would be “very positive for the business”.
Watts and finance director Andy Adams acquired the then-TJ International in 2018.
