The management of Leeds-based Fentons has said that the firms administration and subsequent rebirth was the only way to secure the companys future and 50 jobs.
Fentons bought the assets and goodwill of Margaret Fentons out of receivership with Ernst & Young after it failed to renegotiate an equipment leasing deal with Xerox, which it found was increasingly uncompetitive.
The firm has brought in new managing director Kenney Richardson, who is also a director of Bradnorth Print Finishers in Bradford and Brand Vision in London. He joins the firms other directors Ian and Michael Rhodes.
Richardson said: "We tried to renegotiate the contract with Xerox, but talks broke down and it was the only option. But 50 jobs are safe now and well be able to invest in new technology."
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"As a competitor of those you mentioned, their (and other South West finishers) pre packing exploits used to drive us mad. Actually the base customers were part of the issue (printers) constantly..."
"Hi Keith, perhaps there was a misguided belief that when a company goes bust that spreading out the pain ( debt ) was a reasonable response, after all so many businesses must be making loads of profit..."
"Hit the nail on the head there Dave, it becomes smoke and mirrors as we here about the jobs being saved at say Celloglas or Folio or RNB etc but we rarely get to hear about the negative effect further..."
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