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PwC called in at printing firm

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.’

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