Receivership & administration

Manroland subsidiary ppi Media, which develops smart editorial, planning and production software for the print and publishing industries, is seeking new investors following Manroland's insolvency.

Swiss private equity firm Capvis has revealed that it was the would-be investor that walked away from a deal to acquire a stake in Manroland.

Manroland GB managing director Norman Revill has stressed that the German press manufacturer's UK arm is "okay and solvent", despite the collapse of its ultimate parent company.

Royal Mail has closed its iRed document management subsidiary after it failed to turn around its 9.9m 2010 net loss into a target break-even position by the end of the current year.

Print industry credit information specialist ICSM is offering a reduced rate on credit checks to members in November.

The administrator for Midas Press has said that the company's inability to react to financial difficulties led to 72 employees losing their jobs.

Thomson Litho has gone into administration, less than a month after the company's Czech owners GZ Digital Media took the decision to move print manufacturing abroad, with the loss of 60 jobs.

The number of companies in the print and packaging sector reporting financial problems has decreased year-on-year, according to the latest statistics from Red Flag.

GPV Group, the French parent of UK manufacturer Heritage Envelopes and its subsidiary Chapmans, has been bought out of administration by German envelope group Mayer Kuvert.

Farnborough printer The Midas Press has gone into administration and is understood to have closed its doors.