Smith & Williamson appointed administrators of Century Litho (Truro) Ltd

Administrators Smith & Williamson have been called in to handle the affairs of one of the largest printing companies in the South West of England.

The accountancy and business advisory firm was appointed yesterday (Monday, June 29) to Century Litho (Truro) Ltd, based in Redruth, Cornwall.

Grey Palfrey and Steve Adshead, from Smith & Williamson’s south coast practice in Southampton, were appointed joint administrators hours after a final interested party withdrew from acquisition talks.

Mr Palfrey said: “Our appointment followed several days of intense negotiations to find a buyer for some or all of the businesses. While there was some interest all parties ultimately withdrew.

“This insolvency, with the loss of all 60 jobs, is a significant blow to the local community in what are already tough times.

“Measures have been taken to support the staff in making rapid claims to the National Insurance Fund, which will pay former staff some of the entitlements that the company cannot.

“Further support has been provided by the Job Centre Plus rapid response team who are involved in helping staff make the correct benefits claims.

“We would welcome any further expressions of interest in the business and assets of Century Litho (Truro) Ltd.”

Smith & Williamson is also dealing with the failure of a related company, Century Web Offset Ltd in Falmouth, Cornwall, which entered administration earlier this year.

Interested parties should contact Mr Palfrey or Mr Adshead at Smith & Williamson on 023 8082 7600.

Disclaimer
By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.

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Smith & Williamson is an independent professional and financial services group employing over 1,500 people. The group is a leading provider of investment management, financial advisory and accountancy services to private clients, professional practices and mid-to-large corporates. The group operates from offices in London, Belfast, Birmingham, Bristol, Dublin, Glasgow, Guildford, Maidstone, Salisbury, Southampton, and Worcester.

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