News
MGP Chromocraft bought out of administration
MGP Chromocraft has been bought out of administration by a subsidiary of commercial printer Gaffyne & Browne (G&B).
According to the administrator John Kelmanson, Purple Eight, which is headed up by former Lasting Impressions chairman Russ Green, has bought the assets and the undertakings of MGP.
The company went into administration on 14 April 2008.
Although Purple Eight will be the legal name of the company, MGP Chromocraft will continue to be the trading name.
Green told PrintWeek the company will remain at its Camberley site, where a new six-colour Heidelberg 102 is being delivered in the coming months.
He added that no staff were being made redundant, although some employees were let go before Purple Eight took over MGP.
Green said: "My remit at G&B is to grow the company and expand the quality base it already has. MGP had a specific market base we were looking to go into.
"The timing was right. One of the reasons they were struggling financially was because of the machinery they were running, we had just bought the Heidelberg, which we decided to move to their site.
"We would have needed to upgrade our finishing department in the near future and MPG had everything we needed, so there was a real synergy there."
When MGP became available, G&B were in the process of acquiring the building next door to its facility in Feltham, a plan that has now been scrapped.
Green also said G&B is continuing to look for investment possibilities and was in discussion with two other companies at this point in time.
The combined turnover of the company is now around £7m. Previously, G&B was turning over £2.7m.
Advertisement
Comments
steven fisher - 09 May 2008
David Burgess is bang out of order, I can't belived he has f*cked it all up when Nycourt was trading for a number of years making good profits .
Andy Janes - 09 May 2008
I agree with Fisher, I got told that the Burgess took aload of money out before it went down ! Can anyone confirm
john gale - 09 May 2008
I was told that Myles Bunyard has brought it out of admin !!!!!!!!!!!!!1
steven fisher - 09 May 2008
Just been told John that Bunyard is part of the new team at MGP
Andy Janes - 09 May 2008
God help all of you if Bunyard is there
steven fisher - 09 May 2008
I hope David pays all the creditors him self, your a waste of space in my book
Jack Sheperd - 09 May 2008
I cannot believe that Bunyard is back.
The man has been struck off by the DTI and still IPs keep selling/giving him print companies.
What can be done to stop this?
Andy Janes - 09 May 2008
I can't belive it all IP's are mad dealing with this man
tony scales - 09 May 2008
JUST TO SAY KELMANSON AND BUNYARD HAVE PREVIOUS AND WHAT ABOUT MARTIN BROWN WHOSE PREMISES ARE INVOLVED
tony scales - 09 May 2008
ALSO IF THE NAME DENNIS BELL OCCURS ON THE INSOLVENCY, BE AWARE
Andy Janes - 09 May 2008
Russ Green knocked a load of suppliers with his company Lasting Impressions and he is back for more, how can he be trusted in the trade ? and with bunyard there they have no chance .
Jack Sheperd - 10 May 2008
I thought Russ Green was still at MPG Impressions in Chessington?
tony scales - 11 May 2008
contact Andy Hay he knows all about the 2 MBs Brown and Bunyard,he was shafted by both of them! his e mail is andy.hay@hotmail.com
Andy Janes - 11 May 2008
How is MGP going stay alive with bunyard being there the company should just close now.
To post comments please log in here