Administrators Geoff Rowley and Phil Armstrong from FRP Advisory were appointed on Thursday afternoon (15 March), with all of the firm’s 101 staff made redundant immediately.
In a statement, the administrators said that a combination of trading challenges and financial difficulties had led to Stones entering administration.
Stones runs three long-perfecting sheetfed presses with reel-sheeters, including a new ten-colour Heidelberg Speedmaster XL 106 with Cut Star that was installed last summer.
It also has Muller Martini perfect binding and stitching lines, two Steinemann UV coaters, and an Autobond laminator.
One rival printer described Stones’ prices as “crazily low”.“The big question is, do you want to pick up very low-price work from fairly desperate publishers.
Sheetfed magazine printing specialist Buxton Press was one of the companies named.
Chairman Bernard Galloway told : “We’ll talk to the administrators and take a look at it and see if there’s anything there that’s of interest to us.”YM Group had also looked at the business at the time of Polestar’s collapse, when it was interested in buying Polestar Bicester.
However, this week chief executive Paul Utting said the group was “unlikely to be interested in buying the business”.
Stephens & George managing director Andrew Jones also ruled his business out.