The management of MCH Printing Group in Charlton have bought its assets out of receivership with RSM Robson Rhodes, leaving unsecured creditors with "substantial" debts.
MCH appointed RSM Robson Rhodes on 23 July, and Goldmerit, trading as Yellow Printing, acquired the assets the next day.
Goldmerit trades from the same London address. Former MCH Printing director David Buckley is a director of the new company.
RSM Robson Rhodes partner Daniel Smith said: "Keeping the company trading on as MCH wasnt an option. We could only sell it to a management team at least that way we preserved the jobs there."
But Smith said that because the company had limited assets a number of creditors would suffer substantial losses.
Have your say in the Printweek Poll
Related stories
Latest comments
"Can't help thinking that if the governments minimum wage isn't enough to get by on why is it the minimum?"
"Theft. Pure and simple!"
"I would hope (if we had any spaces) she'd be in prison for fraud / theft......"
Up next...
Bidding open for machines and other items
Northwolds Richardson Group kit up for auction as IP sold
2024 hailed a success
The Print Show targets growth with new sign event for 2025
Branding unchanged
Needham Group acquired by Cyklop
'An easy decision'