Stockport printer Clowes in administration again
A STOCKPORT-based printing firm which was bought by serial entrepreneur Saul Loggenberg’s Bowdon Investment Group just over a year ago has been placed into administration for the second time in 15 months.
Clowes Printers (Manchester), which was set up following the purchase of the business and assets of Arthur W Clowes in a a £60,000 deal last July, appointed Bury-based Leonard Curtis as administrators last week.
The venture was one of a number of printing businesses was acquired by Bowdon Investment Group in a flurry of acquisitions last year. Prior to its initial collapse, Arthur W Clowes had a turnover of over £3m but its failure left creditors owed around £2.3m with no prospect of receiving a payout.
Loggenberg was unavailable for comment, but when contacted by TheBusinessDesk.com a member of staff at Leonard Curtis confirmed that it had been appointed as administrators of Clowes Printers (Manchester) Ltd, which is currently continuing to trade.
They added that administrators were in advanced talks with two potential buyers and said a deal could be concluded for the business and assets of the firm within the next few days.
