Former Cromwell parent ITI enters administration as buyers pursue printer

Information Technology Incentives (ITI), the parent company of digital printer Cpod, bookbinder Chivers Period, and formerly of Cromwell Press, has gone into administration.

Chris Hilbert, manager of the administration team at SFP, told PrintWeek that ITI was placed into administration on 21 January.

At this point Hilbert was unable to say any more about the administration. Cpod and Chivers employ around 12 and 20 staff respectively. It is currently unclear how the two companies will be affected.

Meanwhile, two parties are reported to be interested in buying the assets of former ITI subsidiary Cromwell Press out of from administration.

Cromwell Press, which launched on-demand book printer Cpod in May 2007, went into administration with KPMG earlier this month.

A spokeswoman for KPMG said: "The administrators are continuing to pursue the sale of Cromwell Press as a going concern and are currently in negotiations with two interested parties. 

"The result of these negotiations is expected to be known in the coming days. In the meantime, 23 staff continue to be employed and production is continuing on a scaled-down basis."