Vertis Direct Mail Firm Goes In To Administration

Vertis Limited has placed its wholly-owned subsidiary, Vertis Direct Marketing Services (Leicester) Limited, in to administration.

Vertis Limited has placed its wholly-owned subsidiary, Vertis Direct Marketing Services (Leicester) Limited, in to administration.

Ladislav Hornan, Andrew Andronikou and Peter Kubik of UHY Hacker Young are the Joint Administrators.

Angus Steel, a director of Vertis Limited, commented: "It's been widely known that the Leicester business has been performing poorly for some time.

With insufficient investment in the facility during the last five years, the business had never regained its competitive edge.

Crucially, the company recently lost its largest client, which accounted for around 15 per cent of turnover.

The directors reviewed the current losses, which continue to be substantial and determined that the level of cash outflow would soon damage the value of the company's assets.

Consequently, we were advised to appoint an administrator." Vertis' other operations in Croydon, London and Swindon are unaffected by the decision.

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