1 Communisis in admin, parts of business sold 11,817 clicks
Communisis has gone into administration with parts of the business immediately sold to a new owner, but more than half its workforce has been laid off.
2 Venn Holdings hits the buffers 8,124 clicks
The Venn Holdings buy-and-build dream is in tatters after print wing JDP was shuttered after Christmas, with liquidators expected to be appointed imminently.
3 Revealed: the struggle to sell Communisis 5,247 clicks
Paragon would have been willing to acquire the entire Communisis business on a solvent basis – including its pension scheme liabilities – for £1 in May 2023, but the deal was rejected and the group struggled on for a further seven months before going into administration with a subsequent pre-pack sale of parts of the business to… Paragon.
4 JDP and Culverlands Press shortfall revealed 5,159 clicks
Creditors of Venn Holdings’ trading subsidiaries JDP and Culverlands Press are owed more than £8.8m with the two businesses showing an estimated total deficiency of £4.4m – and major creditors have mobilised to appoint a liquidator of their choosing.
5 Communisis pension scheme heads for Pension Protection Fund 4,168 clicks
The Communisis Defined Benefit Pension Scheme is likely to become the latest industry plan to enter the Pension Protection Fund – although its professional trustee is hoping for a “much improved outcome” for members.
6 Printweek Awards 2024 shortlist announced 2,860 clicks
After a series of arduous – and uplifting – judging days that took place earlier this month, the finalists have been confirmed for the 2024 Printweek Awards.
7 Xerox to cut workforce by 15% 2,717 clicks
Xerox has revealed a new operating model and organisational structure “to further the company’s reinvention” and is looking to reduce its workforce by 15%.
8 All Sorts UK in liquidation 2,675 clicks
Direct Mail specialist All Sorts Mailing Solutions has gone into liquidation after closing its doors last month.
9 Your Print Partner shuttered 2,420 clicks
The company behind Your Print Partner has gone into voluntary liquidation.
10 Principal Mailing ceases trading 2,268 clicks
Print and direct mail specialist Principal Mailing Solutions ceased trading in December and business advisory firm FRP Advisory is expected to be appointed shortly to oversee insolvency proceedings.
