Omnia Books has gone into receivership, with some 280 jobs hanging in the balance.

The directors appointed PricewaterhouseCoopers as receivers at noon on 27 March after incurring on-going losses over the past two years.

Joint receiver at PricewaterhouseCoopers, Iain Bennet, said the company had been left with no choice but to go into receivership, having been fully drawn on its banking facilities, and sitting with an insolvent balance sheet.

I have warned the staff that there may be significant job losses, said Bennet.

The Glasgow book printer was rescued from receivers Arthur Andersen in an 8m management buyout in April 2000, headed by managing director Kevin McKenna and finance director Graham Morrison (PrintWeek 7 April 2000).

The company was previously known as Caledonian International, and was formerly the manufacturing division of HarperCollins.