Wedgwood administrators appointed to NSL
The administrator acting for china and ceramics firm Waterford Wedgwood has been appointed to oversee the affairs of a Newcastle based print services firm.
Joint administrators Ian Brown and Neil Matthews from the Reorganisation Services team at the Deloitte Newcastle office were called in to Nor-screen Limited at New York Industrial Park on Monday 5 January and are currently looking at the options for continuing trading in the short-term whilst work on ongoing contracts is reviewed and assessed. This latest appointment represents a regional perspective on the effects of the global economic downturn.
Nor-screen, which operates under the trading name NSL Integrated Print Solutions, employs 85 people in a print production service with the majority of its clients lying within the advertising sector.
The Deloitte team is working to sell the company on as a going concern and has already received interest from a number of parties that the professional services firm will try and convert into a sale.
Neil Matthews said: “Our priority is to complete the ongoing contracts that Nor-screen has and attempt to secure the sale of the company as a going concern. The interest we have already received since being appointed is very positive and we remain hopeful that a satisfactory outcome can be achieved.”