MOORFIELDS SAVES LEADING COMMERCIAL PRINTING COMPANY
On 18 October 2019, Tom Straw and Simon Thomas, Partners at Moorfields Advisory Ltd, Business Advisors and Turnaround Specialists, were appointed as Joint Administrators of Odessa Print Group Limited.
Following a period of marketing and their subsequent appointment on 18 October 2019, they were able to successfully secure a going concern sale of the business, saving around 70 jobs.
Based in the South East, the Company operated a Commercial Printing Business, specialising in the manufacture of outdoor large format digital and lithographic prints.
In the last few years demand for printed outdoor products declined so the Company moved into the point of sale poster and retail market, but was ultimately unable to restore the Company to profitability given the escalating creditor pressure.
Tom Straw, Partner, said “We are delighted to have concluded a sale of Odessa, the directors had established a good business model, and this will hopefully give them the opportunity to adjust further to the market’s needs.
The sale also ensures the future of the 70 employees and means the business can continue to service its 180 customers.”
For media enquiries, please contact:
Tel: +44 (0)20 7186 1144
Moorfields is one of the UK's leading independent firms of restructuring and insolvency specialists. Our highly skilled teams include restructuring professionals and licensed insolvency practitioners who provide leadership, experience and high quality advice to companies and their stakeholders in financially distressed situations.View all Our News