Elements, the UK wing of troubled US digital print firm Unidigital, has gone into administrative receivership.


Receiver Grant Thornton was called in by principal lender GMAC when attempts to sell the firm as a going concern fell through and it was unable to continue trading (PrintWeek, 13 October).


Despite nearly doubling sales - with 14m to the end
of its financial year in August - it produced a loss of 1.2m. The majority of that was attributed to exceptional items to do with acquisitions and subsequent restructuring.


"The UK was being funded by Unidigital cash," said Tony Flynn, head of the Grant Thornton recovery and reorganisation services team. "Management never really got the whole thing quite under control. It needed cash from the US that wasn't forthcoming."


The situation in the UK is almost identical to the problems that forced Unidigital into chapter 11 (PrintWeek, 25 August).


Staffing has been cut from 220 to around 170, mostly at group level. Several sites were described as heavily overstaffed. Chief executive Tony Manser is assisting Grant Thornton with its plans.


Flynn said there had been interest in buying all or parts of the group, but was unable to reveal any firms currently in negotiations.


Fred Rangolan, managing director of C3 Imaging owner Kelvinside, said: "Elements didn't fit our criteria as a group, but certain individual sites may interest us."


Story by Barney Cox