Six figure debts put HSW Print into administration
By Pamela Mardle Monday, 24 September 2012
B1 and B2 litho printer HSW Print has appointed SFP Group as its administrator after accruing debts of around £850,000.
SFP Group partners Simon Franklin Plant and Daniel Plant were appointed as joint administrators to the company on 17 September.
SFP said it was continuing to trade the business while seeking a going concern sale, although HSW Print's telephone number has been disconnected and its web site has been taken down.
Simon Plant said: "We are already in discussions with a number of potential purchasers."
HSW Print (formerly Hackman Printers) is known for being a large employer in the Rhondda region of Wales. It employs 65 people and has an annual turnover of £7m.
Malcolm Hackman was a BPIF board member from 2007 to 2009 and ran the 60-year-old commercial print company with brother David.
David and Malcolm Hackman changed the name of their business from Hackman Printers to HSW Print in 2002 when they bought Caerphilly-based South Western Printers and incorporated both companies at their Tonypandy, Mid Glamorgan premises.
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