Based in Pontypool, the commercial printing company has entered administration, resulting in 113 redundancies.
Due to decreasing profits and tough competition, MWL Print Group had no other option but to call in the administrators and let all staff go. The company had been looking into selling the business over the last couple of years but unfortunately no buyers came forward. It’s been reported that Deloitte has been appointed.
A statement from the company said, “As profitability reduced, the group had difficulty in meeting its commitments in respect of leased plant and machinery.”
“Trading deteriorated further in the past six months such that the Group no longer had sufficient funds to meet its liabilities as they fell due leading to the decision to cease trading”.
Previous customers of the company included Panasonic, Ofsted and Department for Transport. Sales for the company ending March 2014 were recorded at £10.1 million.
We are not involved in the administration and questions should be directed to Deloitte who are handling the administration.
If you are an employee of the business, please listen to the video below as it will tell you your rights as an employee of an insolvent business. There is a link at the end of the video to the Government website which expands further on what you need to know.
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