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Harrisons brokers rescue deal for IGS 26 April 2013

Harrisons has confirmed the sale of assets from defunct business International Graphics Sourcing UK Limited (‘IGS’).

Tony Murphy, director, and Paul Boyle, head of national practice were appointed to the company as administrators in March.

ISG was wound down prior to administration but the company assets have now been sold to Colorific Solutions Limited (Colorific), which will supply new and existing customers with its product range.

Tony Murphy said: “Colorific Solutions will provide continuity of supply for new and existing Colorific customers. The transition will be seamless with no loss of service or change to ink costs.”

Maidenhead-based ISG was a graphics systems and solutions distributor to the European market, with regional offices in France, Italy and the Czech Republic.

Industry-wide uncertainty regarding the VAT rate to be applied to ink sales was a major factor in the company’s administration, despite a change to the company’s shareholder structure.

The group operated through three divisions – Selectech, an ink and media supplier, Tech8, a technical support provider, and Colorific, an ink supplier.

In June 2012 ISG merged the Tech8 and Colorific divisions in order to strengthen Colorific’s research and development capabilities.
All company employees have been transferred to Colorific.

 

 

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