Former Dudley directors make deal for assets

News by

30 May 2002

Two former directors of Dudley Print have bought its assets and goodwill from administrative receivers Grant Thornton and have formed Direct Print Communications.

The deal came 11 days after Dudley Office Supplies went into administrative receivership.

Sales director David Morris and operations director John Measures completed the buyout on 28 May, safeguarding all 43 jobs at the site in Bow.

"Well be looking at getting into new markets, but were just looking at maintaining as much business as we can," said Measures.

Grant Thornton was called into Dudley on 27 May, leading to the loss of 250 jobs as all bar the Dudley Print side of the company ceased trading (PrintWeek, 24 May). Dudley Office Supplies collapse came just six months after Dudley Stationery went into administration.

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"This is a repeat of what happened to 1066 Capital t/a Crystal a year ago. They also never put this company in administration. We are all still left unable to claim the redundancy and notice pay owed..."