Wednesday, 12 Feb 2020 12:36 GMT

Taylor Bloxham closure hits the industry

150 jobs have been lost after long-standing Leicester-based print group, Taylor Bloxham Group, entered administration due to “severe” cashflow pressures.

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

In addition to Taylor Bloxham, the group is made up of a further three divisions: Instore, which focuses on point-of-sale design and installation; Fast Ant which is a storage, fulfilment and e-commerce division; and Mailbox which provides direct mail solutions for clients.

While a buyer was found for the Mailbox division, saving 21 jobs, the remaining three weren’t saved and a total of 150 jobs have been lost.

According to the administrators, Taylor Bloxham Group had been suffering from severe cashflow pressures which became unsustainable in recent months after a period of losses and tightening of supplier terms.

We will work with the Redundancy Payments Service to provide support at what we know will be a difficult time for all those affected

Woolrych comments: “Taylor Bloxham has been 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.”

The administrators will now work to maximise returns for creditors through the sale of remaining assets of the business.

There are people that will be able to stand the losses or are insured against them, but there will be dozens of suppliers like us – unsecured creditors who will get nothing

The managing director of Tudo Specialist Print Finishers has revealed to Leicestershire Live that he fears the company may not survive the collapse of Taylor Bloxham Group.

Ian Chamberlain, who according to the news outlet worked for Taylor Bloxham for 28 years, describes how his firm is owed £40,000.

Speaking to Leicestershire Live, he says: “If you take £40,000 away from a company the size of ours and also lose the work we were doing for them, it’s like a double whammy. We’ve never been hit this badly before. I’ve already told staff I do not know what I’m going to do.

“There are people that will be able to stand the losses or are insured against them, but there will be dozens of suppliers like us – unsecured creditors who will get nothing.”



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