Printing firm in York goes into administration
It's after a significant period of 'challenging trading' that had been exacerbated by the pandemic and rising input prices
Last updated 31st Mar 2022
A York printing business has gone into administration causing dozens of workers to lose their jobs.Â
AÂ Â specialist business advisory firm FRP have been appointed as administrators for Elvington-based York Mailing.
FRP said the move came after a period of challenging trading made worse by the impact of the pandemic and rising prices.Â
York Mailing, which is part of YM Group, has ceased trading from today (Thursday 31 March). They are one of three others across Yorkshire with Pindar in Scarborough and YM Chantry, based in Wakefield, also being affected.
Phil Pierce and Philip Watkins, Partners at specialist business advisory firm FRP, were appointed as Joint Administrators to the three print providers.
In a statement, they said:
"The appointments have been made to York Mailing Limited, YM Chantry Ltd and Pindar (Scarborough) Ltd (“the Companies”) and come after a significant period of challenging trading that had been exacerbated by the impact of the pandemic and rising input prices. The companies had been subject to an accelerated marketing process in recent weeks to secure a buyer.
"However, without the prospect of investment or a sale, the companies have ceased to operate and the majority of 512 staff have been made redundant. A small number of staff have been retained to assist the Joint Administrators in their duties.
"The Joint Administrators will now make asset disposals, while supporting impacted staff in making claims to the Redundancy Payments Services." Phil Pierce, partner at FRP Advisory, added: “This has been an incredibly challenging period for the printing sector and York Mailing, YM Chantry and Pindar are no longer able to continue trading. Regrettably, the insolvency has led to redundancies at what we know will be an extremely difficult time. We will work with staff to access redundancy support.”