60 jobs at risk as print firm fails
A NORTH West print company has gone into liquidation, putting more than 60 jobs at risk.
Manchester company Kelvin Graphics has appointed turnaround specialists from accountancy firm Beever and Struthers to sale of its assets.
£5m turnover Kelvin Graphics, which is based in Hyde, is currently being operayed under a licence to rival Paramount Print.
Charles MacMilllan, corporate recovery partner at Beever and Struthers said: “We have avoided a pre pack administration as it is not possible to attribute fair value to the business within the tight timescale, and the process would therefore not have been transparent.
“There are currently 12 interested parties and although there is an expectation that Paramount Print will acquire the assets we are continuing to negotiate with several parties and this is not yet a done deal.
“If negotiations on 3 March are successful we will be able to save the jobs of over 60 members of staff currently employed.”
The demise of Kelvin, which was founded nearly 30 years ago, was blamed on the recession as customers cut budgets for marketing and promotional materials.
