Sale of the assets of Kuhnel Graphics Ltd (in administration) to Zebra Print
Joint Administrators' Statement - Sale of the assets of Kuhnel Graphics Ltd (in administration) to Zebra Print
James Sleight and Oliver Collinge of PKF GM were appointed as Joint Administrators of Kuhnel Graphics Limited on 14 September 2021. Today (5 October 2021), they announce the sale of the assets of the business to Zebra Print.
Kuhnel Graphics, a family-owned printing company based in Ossett, Wakefield, traded for approximately 50 years. Due to the pandemic and resulting decline in orders during lockdown and the associated cash flow implications, Administration was necessary in order to protect the remaining assets for the benefit of creditors.
The Administrators initially traded the business to fulfill existing orders while also exploring further options for the company and its business. Unfortunately, despite interest from several parties, a sale wasn’t possible and the business was closed down and all staff were made redundant on 24 September.
Last week, after several expressions of interest, a competitive bidding process was held to purchase the assets of Kuhnel Graphics. Zebra Print was the successful bidder.
Zebra Print, formed in 2006, is a family-run business managed by father and daughter David Storr and Samantha Overton. Zebra Print are based in Pudsey, Leeds and were a customer of Kuhnel Graphics.
Joint Administrator James Sleight said:
“Ultimately due to the effect of the Administration of the company we were never going to be in a position to trade the business for a long period and time therefore ran out to be able to sell the business as a going concern and preserve the jobs of the company’s workforce. The sale of the business assets to Zebra Print, however, avoided the need for the assets to be sold piecemeal at auction and gives the Administration outcome certainty which helps maximise the return to creditors. The business will survive albeit in a different form.
I’m pleased that Zebra Print, another Yorkshire family firm, will ensure continuity of supply for many customers and wish them all the best. I’d also like to thank Kuhnel’s dedicated team who have supported us during this difficult time as well as its customers and suppliers.”
Samantha Overton, Joint Managing Director of Zebra Print said:
“Zebra Print is pleased to acquire the assets of Kuhnel Graphics. We’ve been a customer for a number of years. This deal will support our expansion plans after seeing significant growth despite the uncertain economic outlook.”
ENDS