Member Article

150 jobs axed as Bradford printing company ceases trading

150 jobs have been lost as Bradford-based printing and direct marketing company Global MP Ltd.

Chris Ratten and Jeremy Woodside from Baker Tilly have been appointed joint administrators.

Global MP was established in September last year, following Cogent B2B’s acquisition of the St Ives Direct Bradford Ltd business from the St Ives Group.

Despite the best efforts of the director to secure a sale of the company as a going concern, this was ultimately not possible. As a result, the Director had no alternative but to appoint Administrators.

The company, based in Battye Street in Laisterdyke, Bradford has now ceased to trade and around 150 staff have been made redundant.

Chris Ratten, one of the joint administrators from Baker Tilly said: “Despite securing a new working capital facility earlier this year, the cash flow issues at the company were such that Administration was the only option to protect the remaining assets for the benefit of creditors.

“Regrettably we have had to make a number of people redundant today, and our specialist employee team will be assisting them to make the relevant claims with the Redundancy Payments Service. Our role now will be to maximise recoveries for the company’s creditors.”

Interested parties are invited to contact David Shaw at Baker Tilly on 0161 830 4000.

This was posted in Bdaily's Members' News section by Clare Burnett .