Circle Media: all print plants now failed or for sale (printweek.com)

Circle Media Group has hit the buffers and appears likely to disappear from print altogether – its Austrian web offset business is the latest subsidiary to file for bankruptcy, while the rest of the group’s printing operations have been put up for sale.

In the space of three months problem upon problem piled up for the business. It filed for bankruptcy at Helio Charleroi in Belgium, and at Roto Smeets in the Netherlands, and effected the hurried sales of Finnish gravure printer Helprint and book and commercial printer CPI Group.

During the same period union representatives on the continent also went public with their concerns about the group’s financial position.

Today (25 April) Circle announced that its Austrian web offset business Oberndorfer Druck – which was established in 1913 – “would be discontinued”. Local sources said the company had filed for bankruptcy.

Circle Media also announced that it was searching for potential buyers for its remaining printing businesses in Germany, Belgium and Spain. These are: J Fink Druckerei and Körner Druck; Corelio Printing; and Altair and Rotocayfo.

Customers include a host of leading continental retailers and catalogue companies, as well as some UK catalogue companies.

Former Polestar chief operating officer Peter Andreou (below) took over as chairman and chief executive officer at the then-CirclePrinters business in the summer of 2016, with fresh investors backing his ambitious plan to lead the consolidation of the European printing industry. That plan now lies in tatters.
more at source: https://www.printweek.com/print-week/news/1167483/circle-media-all-print-plants-now-failed-or-for-sale?utm_content=&utm_campaign=290419_PWdaily&utm_source=PrintWeek&utm_medium=adestra_email&utm_term=http%3A%2F%2Fwww.printweek.com%2Fprint-week%2Fnews%2F1167483%2Fcircle-media-all-print-plants-now-failed-or-for-sale

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