Simmons had been working on a phased MBO at the Dorset luxury print and packaging specialist since 2023, as part of a five-year plan.
However, he is now set to leave the company at the end of May after eight years at the business. His appointment as a director of the firm has also been terminated at Companies House.
Chairman and shareholder Les Abbott-Fryer told Printweek it was a sad day for all at Dayfold.
He said: “For the last three years Del had been heading an MBO at Dayfold. Around 18 months ago it was decided that the business would benefit by concentrating on investments within rather than fulfilling the financial obligations of the buyout.”
This had enabled the Verwood-based firm to boost its box making setup, and it also established a new wide-format offering.
In a statement, the company said: “Unfortunately due to difficult trading conditions, both Del and the current owners agreed that resuming the buyout any time soon would place unnecessary pressure on the business, a risk that no one was prepared to take.”
Abbott-Fryer said that with Simmons unable to pursue his ambition of becoming a business owner via the MBO, he had decided to pursue other opportunities.
Abbott-Fryer will resume the role of MD.
“Everyone at Dayfold wishes Del every success it whatever he does next. The impact he made on shaping Dayfold the way it is today cannot be over-estimated, his hard work and enthusiasm will be missed by us all,” he said.
The company employed 40 in the financial year to 30 July 2023.
Printweek understands that some redundancies have been made since the start of the year, but the number of people affected has not been disclosed.
Dayfold, which has sales of around £5m, has also extended its current accounting period from the end of July 2024 to 31 January 2025.
Separately, the firm continues to champion young talent through its involvement with the Creative Print Collab alongside cosmetics firm Lush, foiling specialist Foilco, and Arts University Bournemouth.
Dayfold said the project, which involved a live brief for first year Graphics students, had been incredibly successful and was helping to change the way the graphic designers of the future view the printing industry.
Internships at Lush and Dayfold were awarded to this year’s winning students after a project centred around a creative print and packaging brief with a wellbeing theme.
Ruby Melmoth-Bennett claimed first prize, with Mimi Smith and Alicia Tandy placing second and third respectively
