Almost 150 jobs lost as bid to find buyer for Telford printing firm fails
Administrators failed in their bid to find a new owner for Precision Colour Printing
Almost 150 jobs have been lost at a Telford printing company after a buyer could not be found to save the business.
A total of 148 staff have been made redundant at Precision Colour Printing (PCP) which is based on Halesfield and prints magazines, catalogues and brochures.
Administrators from financial services firm Alvarez & Marsal were appointed a week ago to run the company after it experienced increasing financial pressure and unrest following a series of buyouts in recent years.
A statement released by the finance firm said: "Following their appointment on August 27, Mike Denny and Michael Magnay of Alvarez & Marsal, joint administrators of Precision Colour Printing, conducted an accelerated process to explore a potential sale of the business.
"Regrettably, the process did not generate any viable interest from potential buyers. The administrators have therefore begun an orderly wind-down of the company's operations.
"A total of 148 employees have been made redundant, with 12 retained temporarily to support the process."
Mr Denny added: "Despite our efforts to identify a buyer within the limited time available, it has not been possible to secure a sale.
"The resulting redundancies are regrettable and we are providing affected employees with appropriate support and guidance.
"We thank all employees for their professionalism and co-operation."
PCP operated from a 14-acre site and ran three web presses.
Reports emerged last month in the trade press that clients including music magazine The Wire and Mendip Times, a community newspaper based in Somerset, had been forced to approach rival publishers after PCP had failed to complete their orders.
PCP has undergone several changes of ownership in recent years.
It was sold by long-term owner Claverley Group in 2024 to investment firm Hypax.
Former chairman Stewart Hussey, via holding company Premu Print Holdco, then acquired the business in June 2025 and it was offloaded to a new company called Precision Colour Media in March of this year.
In August, filings on Companies House showed that PCP managing director Nick Evans and finance director Nick Denning left the company.
According to its most recently filed accounts for the year 2024, the company posted a revenue of £27.9 million, a drop of £3.6 million on 2023.
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