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39 redundant at insolvent printing firm 13 June 2014

39 staff have been made redundant after a Telford-based printing firm entered administration.

Graphics and Print (Telford) Ltd, a design agency and commercial printers, entered administration this week following “cash flow issues”.

As a result, all 39 staff at the company have been made redundant.

The company ran into financial difficulty after it lost one of its major customer contracts.

Jill Sandford and Guy Mander from Baker Tilly were appointed as joint administrators to the company.

Sandford, a restructuring and recovery director at Baker Tilly, said: “The loss of a major contract and the associated cash flow implications meant that administration was necessary in order to protect the remaining assets for the benefit of creditors.

“Regrettably, we have had to make 39 staff redundant, and our specialist employee team has been assisting them to make claims with the Redundancy Payments Office.”

Administrators have confirmed that there has been some interest from parties to acquire the remaining assets of the company.

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