UPDATE Manroland GB in administration

<i>PrintWeek</i> can exclusively reveal that PricewaterhouseCoopers has been appointed as administrator for Manroland Great Britain.

A spokeswoman for the insolvency practitioner confirmed PrintWeek that Zelf Hussain and David Baxendale were appointed late yesterday (5 December).

PWC will continue to trade the business in administration and the spokeswoman said that it would "maintain a dialogue" with Germany.

Hussain said: "Due to difficulties arising from the insolvency of Manroland's parent company in Germany, and having run out of alternative options, Manroland Great Britain has been placed into administration.

"We are continuing to trade and are looking to secure the rapid sale of the business and assets of Manroland Great Britain Limited, and consequently we are very keen to speak to anyone who might have an interest in acquiring all, or part, of the company."

Manroland Great Britain managing director Norman Revill added: "The appointment of administrators has been a necessary step to protect the business and ensure that we can continue to support our customers in light of the insolvency of our parent company, Manroland AG"

According to the High Court Index, Manroland Great Britain filed a notice of intent to appoint an administrator yesterday. It said that the application was made by the directors of the company.

The notice of intention follows parent company Manroland AG which filed for insolvency at the district court in Augsburg, Germany, on 25 November, at which time Manroland GB managing director Norman Revill said that the UK arm was "okay and solvent".

More to follow...