Labelsprint sold to production manager in pre-pack deal
By Pamela Mardle Tuesday, 02 October 2012
Wales-based digital label producer Labelsprint has been sold in a pre-pack deal after Leonard Curtis Recovery was called in as administrators.
Kevin Murphy and Andrew Poxon of Leonard Curtis Recovery were appointed on 13 September.
Labelsprint production manager Gwyn Williams registered a new company, JWS Print, with Companies House on 22 August, less than a month before Labelsprint fell into administration.
JWS has since taken on all the assets and goodwill of Labelsprint and continues to trade, as a going concern, under the same name with Williams taking the role of director.
Labelsprint former managing director Gavin Scott’s new role is as yet undecided but Williams confirmed that he was "still involved and will continue to be so".
In an email sent to clients, Scott said: "We have had some difficulties and we have had to take some decisive and difficult actions to restructure our business for the future.
"Hard though it is to tackle the things we got wrong, we have had to [restructure] to ensure we can continue at the top of our industry."
He added: "Reports of our death have been greatly exaggerated."
Labelsprint was formed in 2010 from a merger between Labels First, fronted by Gary Lovell, and Scott’s print management business, Borble.
Lovell, who had a 50% stake in the company, resigned as Labelsprint sales director on 30 April this year. Sources claim that his departure followed a disagreement regarding how the company was run.
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