The collapse of Britain’s biggest printer Polestar has cost 300 jobs this week across its operations, with a buyer for all of the firm unlikely.

Employees have been made redundant across the board in the once 1,600-strong workforce, with some divisions copping 137 cuts on the one site. The rest of the staff are anxiously waiting on developments, and specifically buyers.

The future ownership of the company remains up in the air with potential buyers expressing interest in only parts of Polestar, half a dozen rival printers are currently assessing various parts of the business.

[Related: Polestar goes under]

Polestar was printing some 50 million magazines a week at its peak, but the printing giant’s years of losses have finally taken its toll, and a failed pre-pack sale last month contributed to the administration.

Following last month’s failed pre-pack sale Polestar’s biggest customer DG Medias has turned its back, moving its printing to Europe, industry insiders estimate some $200m worth of print has now gone offshore.

Polestar prints offset and gravure, producing magazines, newspaper supplements, books and journals. It was formerly known as British Printing Corporation and at one time was owned by the notorious Robert Maxwell.

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