Employees at the Kent magazine printer have been informed that between 12pm-2pm today (2 March) the business would go into administration. The new owners will then take over this afternoon.

Staff have also been told that Bicester sheetfed printer Henry Stone is buying the equipment at the company, and that the remaining 90 staff at Headley Brothers’ Ashford site will be transferred under TUPE, and will retain their existing terms of employment.

Henry Stone directors Richard Walsh and Mark Scurr set up a new company, Stones Ashford, earlier this month.

At the time of writing the deal had still not officially been confirmed. PrintWeek understands final contracts are still in the process of being signed off. Employees received their outstanding wages yesterday. 

It’s not clear whether the existing directors will continue to be involved with the business, although a source close to the company told PrintWeek that it appeared unlikely they would remain with the company.