Cromwell Press will not be sold as a going concern
The administrator for Baldwin, which traded as Cromwell Press and Chivers Bookbinders, has said that there will be no sale as a going concern.
Assets of the company are now being sold through an online auction.
Baldwin went into administration with Graham Randall and Mark Roach of BDO on 23 September 2010, after which all 39 employees were made redundant.
According to the administrators, they undertook a review of the financial position of the business, however, interest in the business from potential buyers failed to result in offers, which meant plans for a going concern sale had to be abandoned.
Graham Randall, BDO business restructuring partner, said: "Unfortunately the economic climate and difficult trading conditions have significantly affected the business. Going forward, the administrators will now seek to maximise realisations for the benefit of creditors.
"The company’s assets will be sold via an online auction through their agents Edward Symmons with an estimated finish date of 5 November. Interested parties should go to the website, where details of the auction will be posted soon."
Source: www.printweek.com - News
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