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Birmingham Post
Birmingham Post
Business
Lauren Phillips

Over 100 jobs saved after Cardiff printing firm Gardners bought out of administration

A print company in Cardiff has been bought out of administration saving more than 100 jobs.

Morgard Court,which trades as Gardners, one of Europe's biggest large-format print manufacturers, has been acquired by PFI Group in a pre-pack administration sale.

The company went into administration during the pandemic, but has now been bought by the Manchester-headquartered firm for £100,000.

Read more: House sales in Wales fall but shortage of stock drives prices up

All 102 staff roles at the printing firm have been saved as part of the deal.

Gardners, which operates in a four-acre leasehold facility in Avenue Industrial Park in the capital, will continue to be led by managing director Richard Courtney along with the current management team.

Michael Lennon and Phil Dakin from American corporate investigation and risk consulting firm Kroll were appointed joint administrators to manage the firm's assets and sale to the PFI Group.

The business had historically been profitable with Gardners' client base including major brands such as Asda, Wimbledon and Beats by Dre.

However, the administrators said a decline in the demand for in-house print sales during the pandemic had impacted margins.

They added that some of these sales had been replaced with incremental non-print project work, but the overall impact "further compounded the cash flow difficulties already faced as a consequence of cost increases, labour challenges and supply chain disruptions."

Mr Lennon said: "I’m delighted that we’ve been able to work with the PFI Group to secure the future of Gardners and its employees.”

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