13 May 2008
Andrew Andronikou and Peter Kubik, Partners at our London office Turnaround and Recovery Department have been appointed administrators of the assets of Butler and Tanner Printers Ltd.
Says Peter Kubik: “We were appointed administrators of the company yesterday. We are working to assess the situation to see whether there is a business here for sale or whether we need to realise the company’s assets.”
We were appointed by Butler and Tanner as administrators after failed attempts to resolve a rancorous long-running industrial dispute between the company’s management and the union Unite.
Butler and Tanner, which is based in Frome, was acquired by Media & Print Investments Plc (MPI) in August 2007. Its previous management assessed that changes to the current working practices were needed to ensure its long-term viability.
The company’s proposed changes to workers contracts, which saw the redundancy of 287 staff, were deemed unacceptable by Unite, and its members at the company voted in favour of strike action. Staff have been picketing outside the factory for the past week.
The previous management shut down the presses two weeks ago.
Says Peter Kubik: “There is currently only a small backlog of pending orders at Butler and Tanner, and we will try to fulfil those orders.”
“We are trying to find the best possible solution for Butler and Tanner. One of our priorities will be to talk to the Union, the clients and the company’s management to see whether something can be done to save the business.”
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