Business Weekly - Cambridge, UK

NJP is a well-established printing firm, specialising in long run

printing, such as magazines, and has 300 employees based at its factory in Norwich.

It was created in 2004 following a management buy-out of the

company from its original parent company and has an annual turnover of approximately £25 million.

The appointment of administrators follows, according to a statement, “recent losses at the company attributed to overcapacity in the printing industry and the loss of a major printing contract earlier in the year.”

The statement from PwC also cites the fact that lease for NJP's factory expires on 31 January 2007, and that the company has been unable to secure a new location.

NJP currently leases its premises from landlord and shareholder Jarrold & Sons Ltd. Jarrold & Sons have made it clear to NJP management that the site currently occupied by the print works will be re-developed and planning approval for the construction of offices and residential flats has been granted. Jarrold & Sons have advised NJP that it is necessary for them to commence this development on part of the site by February 2007.

The administrators say they are continuing to trade the business while they contact interested parties with the aim of securing a sale of the business as a going concern.

Stephen Oldfield, joint administrator and partner at PricewaterhouseCoopers

LLP, said: “We are working hard with customers and suppliers, with the support of employees, to maintain trading while we seek a buyer for the business as a going concern.

“The business has a strong orderbook for August and beyond and our immediate priority is to maintain these customer commitments. The extent of customers’ support is critical to the prospect of achieving a sale and preserving jobs.”

NJP received planning consent for a £40m state-of-the-art printing centre in Wymondham in January last year, but operational and logistic constraints meant that the project never materialised.