Avia Invest Leasings deal to save specialist security printer Aero-Print looks to be on the verge of collapse, with offers now being tendered for the Aylesbury firms equipment (PrintWeek, 27 July).

Avia Invest chief executive Uday Nayak said: It looks likely the deal may not happen, as the receiver has opted for a public auction of the equipment.

Nayak said the deal had been held up while he waited for contact from administrative receivers at BDO Stoy Hayward, but said he would be interested in some of the equipment that was for sale.

But a spokesman for BDO Stoy Hayward, which was appointed on 22 June, said that although Nayak had intimated from day one that he wanted to purchase the company and equipment, no firm financial offer had been made so far.

If he wants to buy the company and can come up with the money then he can do so, said the spokesman.

GPMU Chiltern and Thames Valley branch secretary Ian Cummings said: It looks likely the company will not re-open, which is a great shame for the workforce.

Some of the workers were not sure whether to take new jobs or hang on in the belief that the company would re-start.

I suspect that the administrative receivers and Nayak had a number of differences that never allowed them to work together.

Cummings said BDO Stoy Hayward had also settled the dispute over unpaid union fees by paying the GPMU some 2,000.

A spokesman for auctioneer WH Peacock confirmed that Avia Invest Leasing was among several companies it was talking to about the sale of equipment.

Aero-Print closed its doors in July with the loss of 110 jobs.

Story by Andy Scott