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Cheadle Hulme-based print manufacturer, Cestrian Imaging, has been bought out of administration, securing the future of 39 jobs in Stockport.
The firm, which provides immersive visual branding products to the UK Retail, Event and Out of Home industries, has been acquired by Service Graphics, part of the Grenadier Holdings Group, with all Cestrian colleagues and manufacturing capabilities transferring to the new owners.
FRP Advisory were appointed as joint administrators at Cestrian Imaging on 17th November, with the sale of the business agreed immediately. Previous owners, PFI Group, has struggled with rising costs, supply chain disruption and the impact of high inflation and interest rates in the past year, with a number of other businesses in the group nationwide also appointing administrators in recent weeks. The sale comes just two years after PFI Group acquired Cestrian in 2021.
Commenting on the sale, partner at FRP Advisory and joint administrator, Anthony Collier said:
“We’re pleased to have secured a buyer for the company and we’ll continue to work with them to ensure a smooth transition for employees and customers.
“Unfortunately the business has faced increasing cashflow pressures in recent months due to rising costs and supply chain challenges meaning it was no longer able to meet its financial obligations as they fell due.”
Service Graphics, which has provided signage for events including UEFA 2023 and the 2023 Eurovision Song Contest in Liverpool, have confirmed that all existing customer campaigns will be fulfilled following the acquisition.