As anticipated, YM Group has appointed FRP Partners Phil Pierce and Philip Watkins as joint administrators for YM Chantry, York Mailing and Pindar (Scarborough). Related businesses Go Direct Marketing and the Lettershop Group are not affected.
The administrators made the following statement: “This comes after a significant period of challenging trading that had been exacerbated by the impact of the pandemic and rising input prices. The companies had been subject to an accelerated marketing process in recent weeks to secure a buyer.
“However, without the prospect of investment or a sale, the companies have ceased to operate and the majority of 512 staff have been made redundant. A small number of staff have been retained to assist the Joint Administrators in their duties.”
Share