Printweek understands that 22 expressions of interest have been received by KBL Advisory, which is handling the sale, with formal bids required by Tuesday 18 April.
Deanprint, which dates back as a printer and bookbinder to 1890, was acquired by Manchester Printers Group in July last year. At the time it was the group’s biggest acquisition and followed a string of other buys.
However, last month it emerged that Manchester Printers Group director Sarah Pinkney was seeking advice on each company’s viability to continue as a going concern, following “a significant downturn in our industry and our own businesses”.
On 4 April a notice of intention to appoint administrators was filed against Deanprint Ltd. This protects the business from any potential action from its creditors while the sale process is ongoing.
A source close to the company told Printweek: “Deanprint was consistently profitable and now all this happens in six months. The people there have got real skills and the business does so many things that other people can’t do.”
Deanprint’s specialist services include Coptic binding, limited edition books, split page books, menu covers, index cutting, tab cutting, and shaped books.
The business continues to trade while the sale process is ongoing. Deanprint had already been relocated to a new site in Stockport because its old site was sold for redevelopment by the previous owners.
In addition, a virtual meeting of creditors of Manchester Printers Ltd is scheduled for 10:15am on 18 April, convened by Pinkney.
As with the other businesses in the group that have ended up in the insolvency listings of the London Gazette, the insolvency practitioners are Richard Cole and Steve Kenny of KBL Advisory in Sale.
Printweek has approached KBL Advisory for comment but a spokesperson said the firm would not be providing any further information at this time.
The accounts for Manchester Printers Ltd for the year ending 31 March 2022 are flagged as overdue at Companies House, as is the firm’s confirmation statement.
Related business Manchester Printers Group Ltd was clear of any insolvency filings at the time of writing, but its accounts are also flagged as overdue.
Separately, Birstall-based print management specialist PMG has acquired some of the assets of Berkeley Business Forms, which was also among the Manchester Printers group of companies, with a meeting of creditors held yesterday (12 April).
PMG has acquired the CRM system, database, job files, artwork and domain names.
Managing director Mike Roberts said: “In essence it’s a nice little bolt-on of revenue to PMG’s existing business that also provides a good spread of clients to introduce to PMG’s wider product and service offerings.”
