60 jobs axed as cash crisis forces long-established Bristol print firm into administration
Bristol print firm Kingsdown Printers has gone into administration with the loss of all 60 jobs.
Kingsdown, which had operated for more than 30 years, specialised in designing, producing and supplying lithographic and digital printed materials to clients, including print management companies and blue-chip customers.
Specialist business advisory firm FRP Advisory partners Andrew Sheridan and Gareth Morris were appointed joint administrators of Colour Visuals, which traded as Kingsdown Printers, last Friday.
All 60 people employed at its 20,000 sq ft site on the Eastpark Trading Estate in Whitehall have already been made redundant.
Andrew Sheridan said: “Kingsdown Printers is a well-known and long-established printing brand in Bristol and has operated in the city for more than more than 30 years.
“Unfortunately, investing in a state-of-the-art drying press 18 months ago didn’t result in the capacity boost the company expected and, combined with pressure on profit margins in the large print management side of the business, led to a cash shortage that meant there was no alternative but administration.
“Our immediate focus is to support the employees, many of whom have worked for the company for a number of years, during this challenging time. We will also be seeking a buyer for parts of the business and its assets.”
Interested parties should contact Susan Evans at FRP Advisory on 0117 203 3700.