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PMP goes into administration

Published on 16 Sep 2009 under category: legal

A printing firm has gone into administration, it has been revealed.

Philip Myers Press (PMP) has taken this action, which may have required the use of insolvency solicitors, resulting in the loss of 28 jobs.

Graham Wild, one of the joint administrators for the company, commented: "We believe the best result for creditors will be achieved with a sale of the business as a going concern and we are hopeful of securing a buyer."

He added that the firm is an established brand in the Manchester area, having operated in the city for the last 30 years.

The Warrington-based company is believed to have an annual turnover of around £10 million, insolvency solicitors may be interested to hear.

In other news, earlier this month Dutch brokerage Van der Moolen Holding filed for bankruptcy in a court in Amsterdam.

The company has been unable to meet its financial commitments, such as paying the salaries of its staff.

If you require advice on Insolvency and Bankruptcy please call us on +44 (0)20 7831 0101 and ask for Katherine Sillett.