ICSM Business News for the Print and Allied Trades: acquisitions, insolvencies and the industry’s first vegan print firm is liquidated

ICSM Business News for the Print and Allied Trades: acquisitions, insolvencies and the industry’s first vegan print firm is liquidated 

By Harry Mottram: With administrators appointed to rake over the ashes of YM Chantry and York Mailing these are sad days for the print industry with news of insolvencies coming daily.

Administrators have also been appointed at Daniel Paper and Packaging, Premier Sacks and package, and also Your Print Partner Limited.

Mail Publications Limited have undergone a Creditors’ Voluntary Liquidation consent meeting as have the Lancashire Printing Company while liquidators have been appointed at the AST Group and Regional Publications Limited. Winding up orders have been issued to 2Fold Print Limited and Virtuoso Publishing Limited while a petition to wind up Benchmark Print and Embroidery Limited has been lodged.

Writing for the trade publication Print Week Hannah Jordan has reported on the demise of Hatch Print – the firm were heralded as the UK’s first vegan print company. She reported: “Hatch was founded by Gary Toomey in 2017 offering a web-to-print service. All of its products are vegan, ethically sourced and FSC accredited. The business was originally a subsidiary of commercial print firm Fontain, with both entities based at the same facility in Bermondsey, South London. In May 2019, however, Fontain closed for business and Hatch moved to new premises initially in Bermondsey and then again to Orpington, Kent in April 2020 and most recently to an address in Benfleet, Essex which was registered on Companies House in April 2021.”

The firm owes a total of £165,000 that includes a bounce back loan and unpaid suppliers of £13,000 plus £84,000 to the taxman. Toomey is set to re-establish another business using part or all of the original name writes Hannah Jordan – and she noted that the insolvency practitioner Matt Leeds blamed the collapse of the firm on debts relating to loans during covid.

Meanwhile in the paper industry Denmaur Independent Papers have been reported in the same publication to have reached an agreement to acquire the Fine Paper and Conversion division business from Middleton Paper Company.

Richard Stuart-Turner reporting for Print Week noted: “Completion of the deal for the division, which incorporates merchanting arm Vision Paper and Board, is scheduled for mid-July. The Offcuts and Cores division of Middleton Paper Company will remain with the business. The deal, which developed through conversations between the two businesses, will represent Denmaur’s first acquisition since Harry E Gould Jr – currently chairman of the business – took a majority shareholding in it in 2019.”

And finally, if you are fortunate to have any paper £20 and £50 notes in your wallet or under the mattress then you’ve got 100 days to spend them or exchange them at a bank for the new less easy to fold but more durable polymer ones. They go out of circulation at the end of September.

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For details for the work of the journalist Harry Mottram visit www.harrymottram.co.uk

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