Recently filed accounts for Claverley Group for the period to 30 December 2023 include a post-balance sheet event note relating to the sale of Telford web and sheetfed printer PCP.

Claverley said the sale had generated a loss on disposal of just over £1.9m.

The group, which has radically reshaped through a series of acquisitions and disposals, also made a loss on disposal of £550,000 on the freehold property in Wolverhampton that was home to the Express & Star.

In PCP’s available accounts, which are for the year ending 31 December 2022, the business had net assets of nearly £7.15m, down from £10.75m the prior year after the business made a bottom line loss of £3.6m.

The £36m turnover firm’s performance at the EBITDA level improved.

PCP was sold to investment firm Hypax in May. The terms of the deal were not disclosed.

An industry source speculated that if the business had filed similar losses last year, and taking into account the impairment figure, the sale price could have been around £2m.

Claverley Group had not commented at the time of writing.

The group posted sales of £113.8m (2022: £115.1m) and made a pre-tax profit of £7.3m on continuing operations.

Claverley has now sold off all its freehold property except for the Halesfield site in Telford occupied by PCP.