Blow to community as print jobs lost

SIXTY jobs have been lost in Redruth after intensive negotiations failed to find a buyer for a troubled printing company.

Administrators Smith and Williamson were appointed on Monday to handle the affairs of Century Litho (Truro) Ltd, which moved to Treleigh Industrial Estate from Penryn earlier this year.

Greg Palfrey, from Smith and Williamson, said: "Our appointment followed several days of intense negotiations to find a buyer for some or all of the businesses.

"While there was some interest, all parties ultimately withdrew."

Century Litho (Truro) Ltd was one of the largest printing companies in the south west and had a turnover of around £3 million.

It provided printing services to a large number of tourist and leisure businesses in the locality.

Mr Palfrey continued: "This insolvency, with the loss of 60 jobs, is a significant blow to the local community in what are already tough times.

"Measures have been taken to support the staff in making rapid claims to the National Insurance fund, which will pay former staff some of the entitlements that the company cannot.

"Further support has been provided by Job Centre Plus rapid response team who are involved in helping staff to make the correct benefits claims."

Smith & Williamson is also dealing with the failure of a related company, Century Web Offset Ltd, of Falmouth, which went into administration earlier this year.

Mr Palfrey added: "We would welcome any further expressions of interest in the business and assets of Century Litho (Truro) Ltd."

Interested parties should contact Mr Palfrey or Steve Adshead at Smith and Williamson on 023 8082 7600.