PINDAR has announced the closure of its first business since entering administration as the search for a buyer fails.
The Scarborough-based printing company will close its Preston site after administrators failed to find a buyer.
The sheetfed site had already laid off 31 of its 72 employees in a bid to downsize the facility.
Production has now ceased at Pindar’s Preston site, with only a handful of employees remaining to help wind down the business.
Family-run Pindar, which started operating in Scarborough 175 years ago, went into administration two weeks ago after reporting losses of £1.4 million.
Once appointed administrators immediately found a buyer for the company’s largest operation; its web offset and bindery division based in Scarborough.
The sale to York Mailing, based in Elvington, saw all 225 staff transferred as part of the deal.
However last week York Mailing announced there will be redundancies.
At the time of the announcement Chief Executive Chris Ingram said: “As a legal requirement we have to inform the Government and this is in a banded form which is between 20 and 100.
“This does not mean we will be making 100 redundant, but it will be more than 20. This is an ongoing process and will take a couple of months to roll out.
“Unfortunately we are having to make some redundancies as a matter of economic necessity.”
It is understood a 30-day consultation period with employees began last Monday.
York Mailing stated printing will continue in Scarborough at the Pindar site and under the Pindar name.
Following the sale of the larger Scarborough division administrators also sold Pindar’s Aylesbury cartography operation to Halstan Holdings.
All 16 of the business’ employees were transferred to the Amersham-based buyer as part of the deal.
Administrators are still seeking a buyer for Pindar’s smaller Scarborough operation which runs confidential print, and its agility software wing in York.
Both continue to trade in administration, with administrators at KPMG “liaising with interested parties”.
The Pindar Group also owns the world-wide print shop franchise Alphagraphics Inc, headquartered in Salt Lake City, Utah in the US, and Pindar North America, a multi-channel software provider.
The US operations continue to trade as normal and are not affected by the administration.