Buyer still sought for GAE
GAE is continuing to trade as a buyer for the Litho Supplies business is sought. Philip Duffy and David Whitehouse of MCR were appointed joint administrators of the finishing systems company on 5 January 2010. GAE has an estimated annual turnover of ?5.88m and employs around 40 staff.
Duffy said: "The decision to enter administration follows the administration of Litho Supplies on 22 December 2009. The business will continue to trade with the full support of its manufacturers, suppliers and staff. The priority is to identify and negotiate a going concern sale of the business."
The Litho Supplies consumables division was sold at the end of last month to a group led by sales director Eddie Williams and senior employees backed by private equity finance. Despite being made redundant by the administrators, Williams and the management team saw a positive future for the consumable business and their successful bid has saved over 80 jobs.?
In a statement Fujifilm said that as part of the company's policy of not supporting pre-pack or phoenix companies, it will not be supporting the new Litho Supplies Ltd company and will do whatever it can to support customers through its other established distribution channels.