The Glasgow business of Montgomery Litho, which fell into provisional liquidation at the weekend, has been acquired in a management buy-out that has saved 76 jobs.
The trading businesses MLG Glasgow, The Print People and MLG Marketing Solutions will now trade as McAllister Litho Glasgow.
Janette McAllister, managing director, said: “I am extremely grateful for the support of the staff and customers in what has been a difficult few months for the company, but remain confident the business will soon regain its momentum.”
McAllister Litho group will operate from the purpose-built headquarters of the former Montgomery Litho business in Finnieston, Glasgow.
Blair Nimmo, the joint provisional liquidator and head of KPMG’s restructuring practice in Scotland, said: “The sale of the business represents the best possible outcome for the Glasgow operation which will now continue to trade.
“We are particularly pleased to have secured the sale after less than a week as transactions like these are very difficult to achieve in the current economic climate.
“We would like to wish the new owners every success in their new venture as they look to realise their long-term ambitions.”
Montgomery’s Haddington plant will close as scheduled with the loss of 79 jobs.