Sunday, July 5, 2020

150 made redundant as Leicester print firm enters administration

Taylor Bloxham Group, the long-established, Leicester-based, group of print businesses, has entered administration.

John Lowe and Ben Woolrych, partners at specialist business advisory firm FRP, were appointed as joint administrators on 6th February 2020.

Taylor Bloxham Group is made up of four divisions: Taylor Bloxham, which provides printing solutions to a wide range of businesses; Instore, which specialises in Point of Sale design and installation; FastAnt, a storage, fulfilment and e-commerce division; and Mailbox which delivers direct mail solutions for clients.

The company has suffered severe cashflow pressures, which had become unsustainable in recent months following a period of losses and a tightening of supplier terms.

FRP had been working with the directors of the company on an accelerated sale process with the aim of securing a sale for the entire business and had received interest from several parties. However, an appropriate offer was only received for the Mailbox division for which a sale has been completed, protecting 21 jobs.

The remaining divisions of the business have closed, making 150 employees redundant. The joint administrators will now focus on maximising returns for creditors through selling the remaining assets of the business and providing support for all affected employees.

Joint administrator John Lowe said: “Taylor Bloxham has been a part of the Leicester business community for over 80 years but, despite the best efforts of the management team, has been forced to close with immediate effect.

“While we are pleased to have been able to safeguard 21 jobs through the sale of the Mailbox division of the company, the closure of the rest of the business has resulted in 150 people being made redundant. We will work with the Redundancy Payments Service to provide support at what we know will be a difficult time for all those affected.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 lockdown having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.






Latest news

Broadmarsh retail partnership enters compulsory liquidation

The partnership redeveloping Nottingham's Broadmarsh shopping centre has been wound up. Petitions have also been presented against related companies and these have also entered compulsory...

Staton Young swoop for ‘The Post House’ in Derby

Staton Young Group has purchased ‘The Post House’ on Victoria Street, Derby for an undisclosed sum through FHP. In a record-breaking deal, Staton Young secured a...

East Midlands businesses’ cash generation worryingly low heading into COVID-19 crisis

East Midlands businesses’ cash generation has stayed worryingly low heading into the cash crunch triggered by the COVID-19 pandemic, shows a new study by...

University of Lincoln research predicts digital future for law firm

Students participating in the University of Lincoln’s Graduate Skills Builder programme have recently submitted a report following a market research project to a regional...

Record year continues at GIC

A Lincolnshire packaging machinery manufacturer’s strong start to 2020 has continued this month, with the company sending a record number of machines out of...

Related news

£500k funding boost for Kegworth village centre

Kegworth village centre is set for a major revamp after £500,000 of funding was secured this week by North West Leicestershire District Council (NWLDC). The...

Broadmarsh retail partnership enters compulsory liquidation

The partnership redeveloping Nottingham's Broadmarsh shopping centre has been wound up. Petitions have also been presented against related companies and these have also entered compulsory...

Staton Young swoop for ‘The Post House’ in Derby

Staton Young Group has purchased ‘The Post House’ on Victoria Street, Derby for an undisclosed sum through FHP. In a record-breaking deal, Staton Young secured a...

East Midlands businesses’ cash generation worryingly low heading into COVID-19 crisis

East Midlands businesses’ cash generation has stayed worryingly low heading into the cash crunch triggered by the COVID-19 pandemic, shows a new study by...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close