A Derbyshire print marketing company has been sold out of administration, preserving the jobs of its 16 employees.
Family –run Colourstream Litho Ltd entered administration following “a deterioration in trading conditions”.
Chris Stirland and Nathan Jones of FRP Advisory were appointed as joint administrators on 12 August.
Colourstream was marketed for sale, culminating in a deal for the underlying business to Riverprint Derby Limited – owned by Colourstream’s founding Greene family.
Stirland, partner at FRP Advisory, said: “We are delighted to have secured the future of this long-standing family-run business and the employment of its entire staff.
“The firm was experiencing year-on-year growth until a tough economic climate over the past year affected its cash flow, putting unsustainable financial pressure on its previous structure.
“With the business’ future secured under a new ownership structure, we wish everyone involved with the on-going Colourstream business continued success.”
Colourstream, established in 1993, offers printing, design and finishing services to “a range of local, national and international clients”.