Chippendale Printing goes into administration

Peter Allen, Quentin Olde and Matt Adams of Taylor Woodings have been appointed as administrators for the company, which entered voluntary administration late last night.

Taylor Woodings announced that Chippendale employees were notified of the administration at a meeting this afternoon and stood down until further notice.

“A skeleton staff will remain in place to support the administration process,” administrators said.

The first creditors’ meeting will be held next Friday (30 April).

“Over the coming days, we will investigate Chippendale’s financial affairs,” Olde said. “Following this, we will be in a position to determine the best way forward for the company.”

“We will work with the management to determine the best outcome for all stakeholders,” he added.

Chippendale managing director Fred Van Steel told ProPrint on Thursday 8 April the company was not in any financial trouble, despite persistent rumours claiming it was stuggling.

“Quite the contrary, Chippendale has had very strong support from [private equity owners] Helmsman, who are continuing to provide strong financial support,” he said.

Helmsman are currently referring enquiries related to Chippendale to Taylor Woodings.

On 8 April, both Van Steel and Beaver general manager David Francis told ProPrint they had reached a ‘heads of agreement’ over a merger of the companies, though this is now in doubt with both companies now in the hands of administrators.

According to its website, Chippendale employed “200-plus” staff.

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