Print buying

Time Inc’s Guy Gleysteen has jetted into the UK to address the crisis in the publisher’s supply chain due to the situation at Polestar.

Both Wyndeham owner Walstead Group and Prinovis have confirmed their potential interest in parts of stricken print group Polestar.

The Plockmatic Group, owner of UK finishing product supplier Morgana Systems, has this week completed the purchase of Italian bindery kit manufacturer KGS.

Polestar’s unsecured creditors from the period prior to the pre-pack sale of the business in March were owed more than £235m by the group.

Unite the Union has expressed its fears for UK print jobs if DMG Media moves its supplements to the continent in the wake of the Polestar pre-pack sale and administration.

St Ives shares almost halved to a new 52-week low after the group warned on profits for this financial year and next.

Speculation is mounting over the future for Polestar’s single-biggest contract.

Polestar UK Print and Polestar Stones-Wheatons have gone into administration, a month after the pre-pack sale of the group to Proventus.

Polestar claims to have secured more than 90% of its key customer contracts, while a former senior director is back at the business on an interim basis.

Shares in De La Rue rose sharply after the security printer announced that its operating profits are likely to be higher than expected.

Grafenia has described its new Printing.com subscription model as producing “encouraging” results, while its Marqetspace trade printing service is running ahead of target.

Wyndeham owner Walstead has turned its sights on central Europe with a further continental acquisition that will propel the group’s total sales to almost £400m and make it the largest independent...