Workers at Headley Brothers are braced for news of wide-scale redundancies at the up-for-sale business, which has again extended the measures that provide it with protection from creditors.
The Ashford-based magazine printer filed a further notice of intention to appoint administrators earlier this week, which extends the moratorium on action by creditors against the company.
The firm has been consulting on redundancies since last week, and PrintWeek understands that at least 80 jobs will go today (17 February) – around 42% of the workforce.
Headley Brothers employs circa 190 staff in total.
Steve Adshead, a partner at Smith & Williamson, the business advisory firm handling the sale said: “Dialogue continues with interested parties but we don’t yet have a firm offer to proceed with. There are redundancies happening following the consultation process that has been going on for over a week.”
Headley Brothers was put up for sale in January, when the £19.3m turnover business also filed its first notice of intention to appoint administrators as part of the accelerated sale process.