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Glasgow jobs lost as printing firm enters liquidation

Date Added: 14/01/2013  

More than a hundred members of staff at a printing firm in Scotland have been told they are losing their jobs as a result of the liquidation of the company.

Montgomery Litho, which operates sites in Glasgow and Haddington, East Lothian, announced it was going into liquidation at the weekend.

Blair Nimmo and Tony Friar of KPMG, the appointed liquidators, revealed close to 150 members of staff have been made redundant with immediate effect.

This figure is made up of 79 workers in Haddington and 69 employees in Glasgow, with the former site set to be closed down completely due to the liquidation of the business.

Mr Nimmo said: "Montgomery Litho Ltd had been facing difficulties following trading losses and increasing cash flow pressures. The loss of a major customer together with a continuing reduction in order levels at a time of declining demand within the UK printing industry have adversely affected the company."

He added that while it is "regrettable" that so many members of staff have had to be made redundant, it was a "necessary" step for the liquidators of the firm to take.

But Mr Nimmo noted the company still represents an "excellent opportunity to acquire a well-known business with a strong customer base and we are hopeful that a buyer can be found".

Firms in need of company debt advice in Scotland were recently boosted by the news that Lloyds Banking Group has confirmed the appointment of Alasdair Gardner as its new regional managing director of commercial banking in the country.

Mr Gardner revealed he is looking forward to helping companies all over Scotland and stated it is an exciting time to be working in the business lending industry.

He is set to report to network director for commercial Tim Porter and Mark Stokes, managing director of mid markets.

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Posted by Miles Pritchard

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