A PRINTING company has gone into administration, putting at risk hundreds of employees’ livelihoods.

Anton Group Ltd, based in Christy Way, Laindon, is a printing company believed to employ up to 350 people and has now gone into administration after financial difficulties.

Anton was working with experts Deloitte in an attempt to refinance the business.

However, no buyers were found and Richard Hawes and Clare Baldwin of Deloitte were appointed administrators on March 27 with half the workforce being made redundant immediately.

In a statement, Deloitte said: “The business has been struggling financially in recent months as a result of declining sales, a high cost base in need of restructure and an acquisition of a business called Merchandise 365 last year in an attempt to expand operations, which has instead incurred further losses.

"The business had been seeking further investment to support ongoing trading.

"However, this was unsuccessful and therefore the directors had no alternative but to place the company into administration.

"The Group will now be placed into an orderly wind-down, while talks are ongoing with potential buyers for the contracts and assets of the Group.”

Anton’s chief executive Malcolm Lane-Ley declined to comment. The company is believed to be the UK’s largest single-site sheet fed commercial printer.

Its 15,300sqm site in Laindon has the capacity to produce around two million mail items per day.

A former employee who left two years ago and wishes to remain anonymous, said: “I think it’s a family-run business that has run into financial trouble.

"I still keep in touch with a lot of people who I used to work with.

"The company employs about 350 people and they are all waiting for letters to tell them whether they have been made redundant.

"They will have to claim redundancy pay from the Government which is going to put a lot of people in dire straits.”

Laindon Park ward councillor Andy Barnes said: “I hope anyone put out of work can find new employment soon. It’s very unfortunate that the company has gone into administration and if the council can help, we will."