Shoreham Print Company Enters Administration

A print company in Shoreham-by-Sea has announced it has ceased trading and will enter administration, leading to 126 immediate redundancies.

Gemini Print, located on Dolphin Road, has cited several financial challenges as the cause of its closure.

The board of Gemini Print stated that the negative impact of COVID-19 on trade, coupled with rising rent and energy costs due to inflation, significantly contributed to the decision. Additionally, the company is owed a substantial debt, which is likely to be addressed through legal proceedings. In a statement, the board expressed deep regret for the redundancies, emphasising the company’s legal obligation not to trade while insolvent.

Efforts to address the financial issues and secure a viable solution to continue trading were unsuccessful, according to the directors and management. The company acknowledged the significant impact on staff and their families, promising that every effort would be made to assist affected employees in the coming days and weeks. Further updates are expected from the administrators once appointed.