113 jobs have been saved after an Exeter printing firm agreed a deal with administrators for BCQ Group.<\/p>\n
Pollards Print, which dates back to the 18th century, has bought the business and assets of Buckingham-based BCQ.<\/p>\n
BCQ had taken on increased debt during the pandemic and although it was operationally profitable, as measured by EBITDA, it was unable to service its debt.<\/p>\n
Dave Mace, managing director of Pollards Print, said: “Bringing our businesses together will provide a strong platform for future growth and we are very excited at the prospect of working with the BCQ team going forwards.”<\/p>\n
The pre-pack deal was agreed with joint administrators Paul Meadows and Matt Cowlishaw from Teneo Financial Advisory.<\/p>\n
Meadows added: “Pollards Print has aspirations to grow its business and was quick to respond to the opportunity to purchase the business and assets of BCQ in an accelerated sale process ran by our Special Situations M&A team.<\/p>\n
“I\u2019m very pleased this has ensured continuity of the business and safeguarded the jobs of 113 employees.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Pandemic debt created unsustainable financial crisis at group<\/p>\n","protected":false},"author":18,"featured_media":6491,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"coauthors":[81],"class_list":["post-6490","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","tag-devon","tag-top-story"],"yoast_head":"\n