Print industry news updates: paper manufacturer

Print industry news updates: paper manufacturer's revenue drop; Wood Mitchell Printers go bust; and Reach (Trinity Mirror) set to shut two plants with 150 jobs in danger

There has been a sigh of relief from many in the printing and allied industries after Rishi Sunak extended the furlough scheme to the end of March. Ian Carrotte of ICSM Credit said there had been an expected surge in insolvencies in the industry at the end of October which didn’t occur due to the extension of the scheme.

One of the effects of the lock downs and constraints on the industry has emerged with the news that the Cumbrian papermaker James Cropper has seen a fall in revenue. Richard Stuart-Turner for Print Week magazine reported: “By division, revenue in James Cropper's Paper division was down by 45% year-on-year from £38m to £20.9m, Technical Fibre Products (TFP) recorded revenue of £11.7m, down 13.7% from £13.6m a year earlier, and the group’s Colourform division recorded sales of £1.4m, up 16.5% on the £1.2m reported in the first half of 2019.”

Zoom meeting

A meeting of creditors via Zoom is set to take place on November 20 to discuss the fall out from the collapse of Camberley based Lithoxpress Limited.

A resolution to wind-up the company is to be considered at the planned general meeting conducted by Kieran Bourne of Cromwell & Co Insolvency Practitioners of Coventry.

The owner Clive Bryant has been in post for more than 13 years at the business that lists graphic design, advertising and printing as part of its services

Stoke firm liquidated

Wood Mitchell Printers Limited in Stoke-on-Trent in Staffordshire have held a Creditors' Voluntary Liquidation Deemed in Consent Meeting. The firm founded 116 years ago and based at Festival Way have taken the voluntary liquidation route in an attempt to retain control over the process. ICSM Credit understands the family firm employed up to 50 staff and according to their website print leaflets, brochures, posters, catalogues, short run magazines and flyers.

Cake cooked

Manchester based Cake Marketing and Advertising have appointed liquidators. The self-styled ‘boutique agency’ full-service advertising firm said in its publicity that they are in business to help clients get a ‘bigger slice.’

Over reached

The newspaper firm formally known as Trinity Mirror are planning on closing two more printing plants with the loss of 150 jobs. Reach said they need to ‘balancing production of its regional and national titles, and contract work’ with the closure of their Luton and Birmingham plants.

Writing in Print Week Jo Francis said: “Reach Printing Services currently has six sites across the country. The Luton site, formerly West Ferry Printers, was acquired in 2018 as part of Reach's acquisition of Northern & Shell’s publishing assets. At the time there was concern about the long-term viability of the plant, which only opened in 2011, due to its proximity to Reach’s existing Watford site.”

Ian Carrotte of ICSM Credit said it was part of the slow decline of the newspaper industry with sales falling even faster during the Covid-19 crisis as customers cannot always access copies in shops.

About ICSM Credit

ICSM Credit has more than four decades of experience as a credit intelligence group whose members gain inside information about firms in trouble allowing them to avoid bad debts and rogue traders. To join costs less than a tank of fuel - while at the moment there's a special free temporary membership offer during the Covid-19 crisis which gives access to free legal letters. ICSM also has an effective debt collecting service which has a global reach - ask for details from Paul.

For details about ICSM Credit call 0844 854 1850 or visit the website or email Ian at on how to subscribe and to join the UK’s credit intelligence network to avoid bad debts and late payers. Follow ICSM Credit on FaceBook, Twitter and YouTube and Ian Carrotte on LinkedIn.

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