Label firm comes unstuck
A PRINTING and labels business based in Liverpool has gone into administration with the loss of 20 jobs.
Administrators at PricewaterhouseCoopers have been appointed to Lancastrian Labels which specialises in lithographic printing and self-adhesive labels.
It is part of the Tipografic printing group based in Birkenhead.
David Kelly of PwC is handling the affairs of Lancastrian Labels which has ceased to trade. He is now selling off the firm’s assets, including machinery, for the benefit of creditors.
In June 2008 Tipografic paid £190,000 for the 125-year-old Stockport printer Buckley’s, which had a contract with food manufacturer Heinz to print millions of food labels.
Buckley’s was in administration at the time of the deal and was previously rescued from insolvency by managers in October 2007. But Tipografic failed to turn the business around and its acquisition vehicle, Tipografic Print Solutions, was in liquidation by October 2008 with 100 redundancies.
Latest accounts for Tipografic show the business recorded a 22% rise in turnover to £9.9m and a 43% jump in pre-tax profit to £511,650 during the 12 months to October 31, 2008.
In their report the directors, Jeff Cornell and Stephen Cole, admitted that conditions in the print market were “likely to remain tough”.
They added: “The directors continue to strive to develop the business profitably by seeking appropriate means of growth both organically and through acquisition.”
In 2008 the group employed 70 staff and was controlled by Jeff Cornell. Mr Cornell could not be reached for comment.
