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Bosses at Quebecor’s only UK site in Corby, Northamptonshire have moved to calm speculation concerning the future of the firm in the UK.

The creditor protection agreement does not extend to the company’s Latin America and European operations. Angus Jurkschat, marketing director at the Corby site, said that, as a result, it was “business as usual”.

“The South American and European operations are cash positive and cash generative, and can stand on their own two feet,” he said.

“We have heard that rival printers are contacting our clients saying we are going out of business, which is absolutely not the case.”

However, Unite’s Tony Burke, said: “The only communication our members have had is a letter from Quebecor advising that the bankruptcy protection only covers the US and Canada.

“Yet the company said its decision is the result of ‘industry pressures, particularly in Europe’… and its inability to complete the sale of its European operations.”