Preston printing firm announces redundancies
August 2, 2011 by Lyndon
Pindar Preston has announced that almost half of its employees are to be made redundant following an administration order from KPMG.
There are currently 72 employees at the Preston branch of Pindar, based in Bamber Bridge. KPMG announced recently that 31 of these employees are set to be made redundant. Pindar is currently had traditionally offered a number of aspects of printing to businesses and consumers, from sheet fed and digital printing to catalogue printing. Pindar’s Preston operation is set to continue to trade whilst KPMG continue to look for a buyer for the print business. A sale could help eradicate some of the £6 million of debt owed to trade creditors by Pindar.
Large printing firms are increasingly under pressure in the digital era, with many businesses failing to see the benefit of print as online can often seem a cheaper way to operate. However, smaller printing companies in Preston are flourishing in this time of austerity as many firms decide to undertake smaller printing jobs that can be carried out locally. Pindar has operations throughout the UK and even moved into the European and American markets recently, although this move has not stood them in good stead.
The firm has other print operations in Scarborough and Aylesbury and these arms of the business are also up for sale. There is also confusion around how Pindar will recover its pension fund, which stands at a deficit of £19.5 million. Trade publications like Print Week are closely following the Pindar story as it unfolds and more information can be found on their website: www.printweek.com.