Gravure

The future ownership of Polestar’s factories and assets remains up in the air as administrators at PricewaterhouseCoopers (PwC) assess a number of bids for the business.

Polestar employees fear some factories ‘could shut down tomorrow’ if a buyer or buyers cannot be found for the businesses, as more redundancies are made at the group and a major publisher shifts...

Administrators at PricewaterhouseCoopers have confirmed that 183 redundancies have been made at Polestar.

Time Inc’s Guy Gleysteen has jetted into the UK to address the crisis in the publisher’s supply chain due to the situation at Polestar.

Both Wyndeham owner Walstead Group and Prinovis have confirmed their potential interest in parts of stricken print group Polestar.

Polestar’s unsecured creditors from the period prior to the pre-pack sale of the business in March were owed more than £235m by the group.

Unite the Union has expressed its fears for UK print jobs if DMG Media moves its supplements to the continent in the wake of the Polestar pre-pack sale and administration.

Polestar UK Print and Polestar Stones-Wheatons have gone into administration, a month after the pre-pack sale of the group to Proventus.

Polestar claims to have secured more than 90% of its key customer contracts, while a former senior director is back at the business on an interim basis.

Polestar appears to have lost its second multimillion-pound contract in the space of a week.

Polestar’s owner Proventus Capital Partners injected a further £11m into the group in December after Sun Capital declined to provide further funding for the business, according to the first...

Polestar is in a critical post-pre-pack period as it strives to convert customers and suppliers into dealing with the new company. Meanwhile, PwC filings have revealed that Proventus acquired the...