129 jobs saved as Leeds envelope company bought from administration
Great Northern Envelope Company (GNE), based in Leeds, has been saved from administration by Encore Envelopes.
Tyne and Wear-based Encore Envelopes, which has a turnover in excess of £28m, has saved 129 jobs with its acquisition of GNE.
Established in 1984, Encore Envelopes produces nearly three billion printed envelopes from its factory in Washington for the direct mail and transactional markets.
Following the acquisition, Russell Croisdale, managing director of Encore Envelopes, commented: “It’s great news that we have been able to purchase the business and assets of GNE as this transaction will provide continuous employment for the company’s experienced and loyal workforce.
“Importantly, the acquisition, coupled with the ongoing strong financial and technical support which Encore can provide, will also ensure the continuity of supply for all Great Northern Envelope customers from its factory in Leeds.”
The business will trade as Great Northern Envelopes going forward.
On 12th February 2018, Nick Reed and Bob Maxwell of Begbies Traynor were appointed as joint administrators of GNE, which had experienced some difficult trading conditions.
Joint administrator Nick Reed said: “While GNE has faced tough trading conditions in recent years, it will benefit from being part of a large, established company like Encore.
“In the circumstances, the sale is the best possible outcome for creditors, staff and customers.”
Encore Envelopes was advised by PwC and Langleys. Begbies Traynor was advised by Irwin Mitchell.