A BUYER has been found for Pindar – saving 200 jobs in Scarborough.
The historic printing firm, which is one of Scarborough’s largest employers, appointed administrators yesterday morning.
Once appointed, administrators immediately sold Pindar’s web offset and bindery division to York Mailing, based in Elvington.
The move came almost three weeks after the business was put up for sale in light of £1.4 million losses last year.
The deal has secured the future of all 255 staff in the division, and will see printing continue to operate in Scarborough under the Pindar name.
Pindar is yet to release a statement about the sell off, with group chairman Andrew Pindar unavailable for comment yesterday.
The company was founded in Scarborough in 1836, and employs 432 staff in total.
Aside from the 255 workers transferred in the deal, a further 47 are employed in Scarborough through a confidential printing arm of the business, along with staff at operations in Preston, Aylesbury and York.
No redundancies have been made immediately as a result of Pindar going in to administration, however a question mark still hangs over the future of the remaining 177 staff.
Mark Firmin of KPMG, who has been appointed joint administrator of G A Pindar & Son Limited, said: “I am delighted that we have been able to sell the largest part of the group, shortly after appointment.
“In the respect of the other businesses, we are actively seeking buyers and are continuing to speak to a number of interested parties.”
Scarborough MP Robert Goodwill welcomed the news of the deal.
He said: “It is very encouraging to hear the news, which underlines the fact that Pindar was a very successful business with a great reputation.
“That has been demonstrated by the fact as buyer has been found so quickly.
“It is very good news that jobs have been secured but I am keen to have an early meeting with the new owners to get some guarantees about this.
The buyer York Mailing, is a relatively new firm, founded in 1998, and now generating £45 million turnover and employing 210 people at its site in York.
The company is the UK’s fastest growing printers of retail promotional print, direct mail inserts and retail flyers, and has created a new subsidiary called York Mailing Holdings to incorporate the Pindar business.
In a statement, Chris Ingram and Mike Newbould of York Mailing said: “This is an excellent opportunity to combine two of the UK’s largest businesses in this sector, whilst ensuring the survival of the historic Pindar name.
“We are delighted to welcome the Pindar printing business into York Mailing and look forward to growing the business in this competitive marketplace.”
Pindar was founded in 1836 when George Kyte Grice, a journeyman printer established a business in the town.
In the early 1870’s George Arthur Pindar joined the company and subsequently bought the business from Mr Grice for just £500.
His son George Thomas Ventress Pindar joined the company in 1949 and took control of the business from his father in 1954.
Known locally at Tom Pindar, he was awarded an OBE by the Queen in 1986 and became a Deputy Lieutenent of North Yorkshire in 1993.
His son George Andrew Pindar is the present chairman.
The Pindar group also owns the worldwide print shop franchisor Alphagraphics Inc, headquartered in Salt Lake City, Utah in the US, and Pindar North America, the multi-channel software provider.
The US operations continue to trade as normal and are not affected by the administration.