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Gemini Print Southern Limited goes into administration

Print Solutions


Gemini Print Southern Limited, the commercial printing business based in Shoreham-by-Sea, has announced it has ceased trading and intends to enter administration later this week.

 

As a result of this insolvency process, 126 employees are being made redundant with immediate effect. An announcement was made to staff at the company’s headquarters. A small number of employees will be retained in the short term to complete existing commitments and orders. 

 

The board of Gemini said in a statement that an accumulation of factors had led to the decision to place the company into administration. Trading was seriously impaired during the Covid pandemic and struggled to recover fully, inflationary pressures led to steep increases in rental and energy costs and a substantial debt owed to the company remains unpaid and is likely to become the subject of legal proceedings.

 

The board statement said: ‘We are deeply sorry for colleagues affected by this decision but the company has been placed in an impossible situation and has a legal obligation not to trade whilst insolvent.

 

‘The directors and management have strived in recent months to address the financial issues facing the business but have been unable to secure a solution that would enable the company to continue trading.

 

‘We fully recognise the impact this will have on staff and their families and every effort will be made to assist them in the days and weeks ahead. Further information will be provided by the administrators once appointed.’

 

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