Administrators save 12 jobs at printing company
A DOZEN jobs have been saved after a long-established Portsmouth print company was sold out of administration.
PPG Print, based in Hilsea, appointed business recovery specialists Begbies Traynor at the start of the month, to save the company from collapse.
The administrators sold the business and the assets as a going concern, safeguarding 12 jobs, and the company will continue to trade as PPG Print Services Ltd.
Gavin Savage was one of two administrators appointed – he says that the company had suffered financial problems because of an unpredictable workflow, which had resulted in them struggling to manage overtime.
He said: ‘The management team did exactly the right thing, contacting us quickly so were able to effect a robust plan which safeguarded 12 jobs and gave what is a long- established business a firm footing on which to go forwards.
‘The business now has proper backing, and we are optimistic that it can now flourish despite being in what is a very competitive marketplace.’