News
Historic label firm Buckleys set to fall into hands of liquidators
Stockport label printer and Buckleys owner Tipografic Print Solutions (TPS) is on the verge of liquidation, culminating a tumultuous 12 months for its employees.
Matthew Dunham, business restructuring partner at BDO Stoy Hayward, has been assisting the company, which is expected to go into liquidation on 31 October 2008.
It ceased trading on Friday (10 October) when the 100 employees at the company were made redundant.
Less than four months ago TPS bought rival company Buckleys Print and Packaging (BPP) out of administration.
Dunham said: "From the outset the business has been affected by the economic climate, and has incurred significant losses. It is now looking to enter liquidation."
According to Unite, staff were sent home on Friday afternoon, shortly after a meeting in which they were informed that the loss of a substantial contract had led to the compay’s failure.
It is unclear what the situation is with TPS’s other major contracts, including the reported 750m labels a year it prints for food manufacturer Heinz.
In October 2007 the site at Welkin Road housed Buckley and Bland, a 125-year old firm that was later bought out of administration by BPP, which was led by former managers of Buckleys. BPP lasted just eight months, before once again falling into administration and being bought by its Wirral-based rival Tipografic.
Tipografic, which trades as Tipografic Print Group, bought BPP’s assets in June using Tipografic Print Solutions.
Tipografic Print Solutions was previously known as Tipografic Media Solutions (TMS), before changing its name on 19 June. The same day another company, also based at Morpeth Wharf, changed its name from Tipografic Print Solutions to Tipografic Media Solutions.
All three companies have Jeffrey Cornell and Stephen Cole as directors. Neither were available for comment.
TIMELINE
October 2007 Buckley and Bland in administration, bought by former managers
June 2008 BPP in administration, bought by rival company Tipografic through Tipografic Print Solutions
October 2008 Tipografic Print Solutions to be placed in liquidation
Tipografic Print Solutions specialised in FMCG labels
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Comments
Truth and Justice - 16 October 2008
Hey Hey! 1st post and I got in before Colin and his generic corporate drivel. Result!
Ian Cookson - 17 October 2008
Think comments should be reserved for those making pertinent comments about the issue in the article. 100 people are out of work.
Daniel Levi - 21 October 2008
Another sad day for print, good luck all you looking for work, remember one door shuts and another opens, thoughts are with you all
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