Scottish print firm Montgomery Litho goes into liquidation
A Scottish printing business employing 233 people has gone into liquidation.
Montgomery Litho Limited (MLL) has printing and book binding operations in Glasgow and Haddington. It had a turnover of £19m.
Liquidators Blair Nimmo and Tony Friar of KPMG have paid off 148 employees with immediate effect. The Haddington plant will close.
They said they intend to run the Glasgow operation on a smaller scale while looking for a buyer.
Blair Nimmo said: "Montgomery Litho Limited had been facing difficulties following trading losses and increasing cash flow pressures. The loss of a major customer together with a continuing reduction in order levels at a time of declining demand within the UK printing industry have adversely affected the company.
"It is regrettable, but unfortunately necessary, to have to close operations in Haddington and to implement redundancies both there and in Glasgow.
"However there remains an excellent opportunity to acquire a well known business with a strong customer base and we are hopeful that a buyer can be found."