The group announced this afternoon (11 May), that it had sold the business to a local printer. "The decision to sell this operation follows a period of intense management effort to improve the operating performance of this business, however, the financial results remain unacceptable and the sale avoids significant closure costs," it said in a statement.

The Dutch wing comprised a manufacturing plant in Den Bosch and a sales office in Belgium. The loss on the sale includes an asset write-off of 2.3m and goodwill of 2.4m.