PwC called in at printing firm
Recent losses see administrators run Norwich-based company
Recent losses see administrators run Norwich-based company
Administrators from PricewaterhouseCoopers have been called in to run NJP, a
printing firm based in Norwich, which employs 280 people.
Stephen Oldfield, Colin Haig and David Chubb were appointed as joint
administrators on Monday this week (1 August).
The appointment of PwC follows recent losses at the company attributed to
overcapacity in the printing industry and the loss of a major printing contract
earlier in the year.
NJP was created following a management buy-out in 2004 and has an annual
turnover of approximately £25m.
Four directors have been made redundant with no further redundancies planned
at this time.
Stephen Oldfield said: ‘We are working hard with customers and suppliers,
with the support of employees, to maintain trading while we seek a buyer for the
business as a going concern.
‘The business has a strong orderbook for August and beyond and our immediate
priority is to maintain these customer commitments. The extent of customers’
support is critical to the prospect of achieving a sale and preserving jobs.’
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceInsolvency statistics in the UK for the second quarter of 2023 were the highest since 2009 with 83% of them relating to small businesses Read More...
View articleThere were 6,342 recorded company insolvencies in Q2, reflecting a 9% increase compared to the number of insolvencies in Q1, and a 13% increase compar...
View articleThe survey paints a “brightening” picture of the global economy, according to the ACCA Read More...
View articleThe pandemic may have “distorted” some economic data Read More...
View articleAdvisory firms must offer a “more supportive” and holistic approach to clients amid the economic downturn Read More...
View articleHaving a clear plan and clean data to help optimise the use of scarce resources will be key for businesses Read More...
View articleThe Coronavirus Job Retention Scheme has supported millions of jobs amid the pandemic, but with the support measure set to end in September, how can a...
View articleShift from BBL debt to equity could pose wider business implications Read More...
View article