He said: "When I joined Beshara four years ago one of the things that enticed me was the possibility of doing an MBO but the state of the printing industry is such that I dont want to do one."

Horrocks added he had "a couple of irons in the fire" for the future but nothing certain. "I may stay within the industry or move outside," he said.

Beshara, the commercial printer with sites in Tewkesbury and Nottingham, has also been in talks about the sale of the group to Midlands Publishing (PrintWeek, 20 July 2001). But Beshara owner Hugh Tollemache said there was currently "no movement". "They are still talking to us," he added.

Story by Gordon Carson