Timsons Enters Liquidation, Eliminates Jobs Due to Lack of Sales for Digital Printers
KETTERING, NORTHAMPTONSHIRE, UK—January 21, 2015—Timsons Ltd, a manufacturer of printing presses for book production based here, has confirmed that 25 jobs will be lost after the firm was unable to attract orders for its digital printing equipment, reported the Northamptonshire Telegraph.
According to the Telegraph, Timsons experienced a significant drop in the sales of its printing presses and had concentrated its efforts on restructuring the company. A spokesman for the company in a statement said: "It (Timsons) ceased production of conventional lithographic presses in order to concentrate on the manufacturing of digital printing equipment. Unfortunately, in the period since restructuring, Timsons Ltd has been unable to attract further orders for digital equipment and, as a result, trading losses have continued.
"These losses have meant Timsons Ltd can no longer continue to trade and the directors have taken steps to place the company into a Creditors’ Voluntary Liquidation. This will result in the closure of Timsons Ltd. and the loss of 25 jobs."
Founded in 1896, the family-owned business employs over 150 people at its Kettering-based design and manufacturing facility, and has an office in Chicago and a network of sales agents across the world.