Jobs go as Ward Knowles put into administration
WARD Knowles, a specialist business forms printer, has today been placed in administration with the immediate loss of 59 jobs.
The £15m turnover company, which operates an 80,000 sq ft manufacturing unit in Oswaldtwistle, Lancashire and had an office in Ancoats, Manchester, employed 165 people in total. However, 59 members of staff have been made redundant as a result of the administration.
Paul Flint and Brian Green from KPMG Restructuring in Manchester have been appointed joint administrators and are undertaking a review of the business’ operations to determine whether a limited period of trading will take place.
Mr Flint, associate partner at KPMG Restructuring, said: “This administration has been the culmination of a difficult trading period, during which the firm became heavily loss-making. We are working intensively with the stakeholders and unions to find a solution, including exploring options for a potential sale of the business.”
He added: “Business support services companies are really feeling the strain as businesses seek to reduce supplier costs. Printing is one of the most obvious areas in which businesses can reduce costs quickly; particularly in an age where communications are increasingly moving online.”
Founded in 1904, Ward Knowles was bought by four senior managers in the company back in 2000. The company has no direct sales force and relies entirely on the major print management companies for growth.
