Allan Graham and David Standish were today appointed joint administrators of Goodhead Group, one of the UK's biggest magazine printing firms, with operations in Bicester and Banbury. On appointment, the administrators sold the business to Polestar Group, avoiding the need for any redundancies and securing 518 jobs.
Allan Graham, joint administrator and restructuring partner at KPMG, commented: “The printing sector has suffered extremely difficult trading conditions over the last few years, but we are pleased that we have been able to rescue the business and over 500 jobs with today’s sale to Polestar, one of the market leaders in the printing sector.”
The business will continue to operate from both sites in Oxfordshire.
- ENDS -
For further information on the administration, please contact:
Emma Murray, PR Manager, KPMG
T: 020 7694 6506
KPMG Press Office: 020 7694 8773
For further information on Polestar Group please contact:
Fergus Wheeler, FTI Consulting
M: 07710 128 347
Marc Cohen, FTI Consulting
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 11,000 partners and staff. The UK firm recorded a turnover of £1.7 billion in the year ended September 2011. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 150 countries and have 138,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.
This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.