Tough times for Glasgow printing company
November 2, 2011 by Lyndon
John McCormick & Co. Ltd was a printing company that opened back in 1890 and has been providing services like poster and stationery printing to Glasgow businesses ever since. However, back in October, staff at the printing firm were asked to leave and not to return back to work the following week. They are being paid off as the company has gone into receivership.
An accountancy firm, Campbell Dallas, has been appointed to take care of the winding up of the company. One of the partners from Campbell Dallas, Derek Forsyth, told the Herald Scotland:
“The business has suffered in recent times from increased material and utility costs and has not been able to keep trading as a result of that. We are not anticipating finding a buyer for the business and will now concentrate on realising its assets by selling off what is left.”
As tough economic times force the cost of raw materials up, many companies are suffering the same fate and John McCormick & Co. Ltd found that this, combined with hard-to-manage debts meant that they could no longer continue to run the business.
The businesses and individuals that relied on John McCormick & Co. Ltd will find it comforting to know that their print jobs can be undertaken by other print firms or print shops in Glasgow.