APS swoops for ailing print rival

A STOCKPORT print management business has rescued an ailing North West rival, a day after it was placed into administration.

Cheadle-based APS Group has rescued Warrington-based Philip Myers Press (Holdings), which ran into cashflow difficulties as a result of the recession.

On Tuesday 28 people were made redundant, leaving a workforce of just over 50 at the Birchwood-based firm.

Administrator, Graham Wild of Zolfo Cooper, said:  “We are delighted to announce that we have completed the sale of the business and assets of Philip Myers to APS Group. 

“We would like to thank all employees, customers and suppliers for their support during the administration and wish APS every success for the future.”

APS managing director, Nick Snelson, said:  “We recognise the quality and the capability of this important supply chain partner.

“In these difficult and challenging times, it makes good business sense for organisations to come together in order to be able to develop new and value-added opportunities for all our customers.

“Philip Myers is highly regarded in the market as a quality operation with an excellent workforce that will bring additional strengths to the APS team.”

Kim Naylor, managing director of Philip Myers, added:  “It has been an apprehensive time for everyone involved with the company, our employees, our customers and our suppliers and I am delighted that negotiations with APS have been concluded successfully.

“APS is a financially strong company with a good track record of winning new accounts and retaining existing ones which can give us confidence in the future.”

APS said it was too early to say how many of PMP’s staff would remain after the acquisition was completed.