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Business

David Taylor Automedia closes its doors

Loughborough-based commercial printer David Taylor Automedia has made all 10 of its staff redundant after administrators BM Advisory concluded the sale of its goodwill, customer list and order book.

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David Taylor Automedia had been in business for more than 40 years

In October, BM Advisory was brought in to help advise on possible options for restructuring the business, and carried out a targeted marketing campaign with a view to achieving a sale of the business.

However, while BM Advisory received 27 enquiries during the period and some 18 parties returned non-disclosure agreements, no offers were put forward for the business.

David Taylor Automedia entered administration on November 6th, and shortly after BM Advisory concluded a sale for the goodwill, customer list and order book to an unconnected party in the form of Jump Design & Print Limited.

The sale did not include the plant and machinery, nor office equipment and other motor vehicles, which will be marketed for sale via an online auction. Interested parties can view the assets on November 26th.

Andrew Pear, joint administrator with Michael Solomons at BM Advisory, says: “Whilst there was significant interest shown during the accelerated marketing period, there were no offers for the business as a going concern.

“Our main objective was to achieve a better result for the creditors as a whole, and this was accomplished through the conclusion of the sale in short order of the company’s goodwill, work in progress, order book and a motor vehicle.”

Family-owned David Taylor Automedia says it suffered from a downturn in sales, principally due to the general economic climate and the loss of a major customer, which had a detrimental effect on its cashflow.

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