Bury St Edmunds: 10 jobs lost with closure of print firm AbbeyHine
Ten jobs have been lost with the closure of Bury St Edmunds-based commercial print company AbbeyHine following a donwturn in trade.
Director Peter Allum said the decision to cease trading had been taken while the business was still in a position to fulfil its outstanding orders and to pay its suppliers.
A number of AbbeyHine employees had transferred to sister company AbbeyLabels, which was continuing to trade successfully and now had a workforce of nearly 30, he added.
A statement of the company’s website announcing the closure said: “The company is not going into receivership or liquidation, and we have taken the decision to close the business whilst we are in a position to fulfil all our outstanding orders and pay all our suppliers.
“We would like to take this opportunity to thank our many customers and supplies for their support over the past 30 years.
“Many of you will know our sister company AbbeyLabels which continues to thrive despite a tough economic climate.
“As part of our growth strategy we have recently invested in new equipment, and wherever possible we will be looking to employ staff from AbbeyHine at AbbeyLabels. All other staff will receive a full redundancy package.”
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AbbeyHine was founded in 1982 as AbbeyForms, specialising in business stationery, before changing its name and moving into colour sheet printing with the acquisition of Geroge Hine Ltd.
It later identified a further opportunity in the self-adhesive label market, which led to AbbeyLabels being established as separate business.