A St Helens-based printing ink manufacturer has been sold out of administration, securing 11 jobs.
UK Inks Limited entered administration last month after accruing “substantial debts to a number of creditors”.
Simon Plant and Daniel Plant of SFP Group were appointed as joint administrators to the company on 21 March.
The company experienced increased overheads and reduced profit margins during 2013 but was unable to “pass the costs on by increasing prices due to competition in the marketplace”.
Following a creditor action in early 2014, the directors of the company placed the company in administration.
A statement from the administrators said: “UK Inks experienced cash flow difficulties due to its liabilities and severe creditor pressure which has led to the company being placed into administration.
“It is pleasing to report that a sale was subsequently achieved, ensuring the preservation of jobs.”
The printing sector has experienced a number of administration casualties so far in 2014, as three other firms linked to the sector entering administration in March alone.