Begbies Traynor advises on Folio Print Finishing sale to Print and Packaging Solutions

Begbies Traynor has sold Folio Print Finishing Limited out of administration to ATB Folio Print and Packaging Solutions Limited, safeguarding the jobs of all 40 employees.

Over the past three decades, the Avonmouth-based company had established itself as one of the largest businesses of its kind in the UK, serving a nationwide customer base.

The company began to experience financial difficulties when two of its largest customers became insolvent. These bad debts along with legacy HMRC and Rating authority liabilities put the company in an untenable position and Begbies Traynor was engaged in February to assess options. 

Paul Wood and Neil Vinnicombe of Begbies Traynor were formally appointed as administrators and oversaw the deal which took place on 5 April 2024.

Regarding the sale Wood said: “With two major customers falling into insolvency, the company was put under significant financial pressure, and it was immediately evident that a pre-packaged sale was the most desirable outcome.

“This sale not only preserves the jobs of all 40 employees but should also enable a distribution to be made to some of the company’s creditors.”