Jobs saved as graphic design firm bought out of administration

JOBS hve been saved after a Yorkshire-based graphic design, print marketing and exhibition solutions company was bought out of administration.

FRP Advisory, the restructuring and advisory firm, confirmed that on March 11, the business and accompanying assets of Bradford-based Reproworld were sold out of administration to Arc-UK, the UK arm of NYSE-listed Arc Document Solutions.

FRP Advisory partners Phil Pierce and Geoff Rowley were appointed joint administrators last month following deterioration in the company’s trading performance which had put “unsustainable pressure” on the busines.

Before entering administration the former directors of the company considered a range of solutions, including a sale of the company, to secure the best long term future for the business as a going concern in the interests of its stakeholders including customers, suppliers and employees, said the administrators.

As a result of the sale all employees have been transferred to Arc, securing the jobs of all staff.

The business will continue to trade from the same leasehold premises in Bradford.

Phil Pierce, Leeds-based partner at FRP Advisory and joint administrator, said: “We are pleased to have helped with the survival of the business through the sale to new owners Arc-UK. The sale of the business secures 12 local jobs in Yorkshire and allows for vital continuity of the business’ operational structure and customer service.

“We were appointed to advise the company following a recent period of adverse trading performance for the business resulting in unsustainable cash flow pressures, and the decision was made for the company to enter into administration to facilitate a sale of the business.

“We wish the new owners every success for the future as it continues to serve the business’ loyal customer base and grow as part of a wider national firm.”