Printing firm goes into administration

Published Sunday, 12 February 2012

Printing firm Northern Whig has gone into administration with the loss of 21 employees.

The Northern Whig was the name of one of Ireland's oldest newspapers. (© UTV)

The company announced the move on Sunday evening.

A statement said Stephen Cave and Paul Rooney, from PwC's Business Recovery Services department, have been appointed as joint administrative receivers.

Mr Cave said the difficult economic climate has taken its toll on the company.

"Unfortunately the company's trading position has deteriorated, due largely to declining turnover in the current difficult economic climate," he said.

"Despite the efforts of the directors to secure a way forward for the business, cashflow pressures led to the business ceasing to trade last week, with all employees being made redundant.

"Since our appointment our immediate objective has been to determine the precise financial position of the company, and to examine potential sale opportunities."

The Northern Whig was the name of one of Ireland's oldest newspapers.

The paper shut down a half century ago in 1963.

The name continued and, as the Northern Whig Limited operated as commercial printers for the last three decades, specialising in digital and lithographic printing and design.

Comments

2 Comments

Lucie in Belfast wrote (101 days ago):

What on earth does Arlene Foster and members of the Northern Ireland Assembly intend to do about this constant haemorrhaging of jobs in Northern Ireland. It occurs to me that the only thing our Government Ministers and M.L.A's are proficient at is talking about the economy whilst continuing to do absolutely nothing to improve it. Of course, as everyone knows, there is one thing that they are extremely good at and that is drawing their exhorbant salaries and expenses in order to employ large numbers of unnecssary press officers and advisors most of whom are family relations or ex-cell mates. The time is long overdue for this Assembly to take a long hard look at itself or better still resign and reintroduse direct rule from Westminster.

Charlie in Belfast. wrote (101 days ago):

Another Northern Ireland firm going out of business and more employee's heading for the ever increasing dole queues whilst yet again there is a deafening silence from Arlene Foster and and her colleagues in the Northern Ireland Assembly. It has become as plain as the nose on anyone's face that this Northern Ireland Assembly and it's costly overpaid M.L.A's, Ministers, advisors, consultants, press officers and secretaries of which there are far too many are a total disaster and failure. It's time the electrate irrespective of political opinions united and took action of some sort in order to have these useless clowns booted out of Stormont and Direct Rule brought back.

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Printing firm goes into administration

Printing firm Northern Whig has gone into administration with the loss of 21 employees.