Family buys print firm back from administrators
SOME 20 jobs have been saved at a family-owned direct mail company based in south Manchester after administrators agreed a deal with former owners to buy the business back.
Paton Brown, which operates from sites at Levenshulme and Ashton, appointed Andrew Poxon and John Titley of insolvency firm Leonard Curtis as joint administrators on December 7.
The firm undertakes direct mail and printing operations for many blue chip clients and has a trading history stretching back 50 years.
Two years ago managing director Ian Cooper argued that the firm had had its best ever year, telling industry magazine Print Week that its turnover had grown by £3m to £10m. It also bought two reconditioned presses worth £1.5m.
Cooper had credited the rise in turnover to mailing contracts for energy firms including British Gas and Scottish & Southern Energy – part of which involved mailing out millions of energy-efficient lightbulbs to customers. It also had a number of contracts to supply ballot papers to local authorities.
However, a spokesman for Leonard Curtis told TheBusinessDesk.com that the loss of a major customer had caused a downturn at the firm, but the “pre-packaged” administration deal agreed with management not only guaranteed the future employment of staff but offered the best return to creditors.
