Pillans and Waddies goes into liquidation
Scottish printer Pillans & Waddies has gone into receivership as the latest victim of an oversupplied British print industry.
The company, which employs 220 staff in Livingston, is now being operated by receivers Ernst & Young as a buyer is sought and the jobs are thought to be under threat.
The company, which called in the receivers on Friday, was formed from the merger of Edinburgh-based Pillans & Wilson and Livingston-based Waddies in 2003.
At the time, the merged company was reported to command 40 percent of the Scottish printing market, with predictions of £40 million turnover and £3m profit.
However, since the merger it has never made a profit, and in 2004 the company closed its Edinburgh press and consolidated operations at Livingston, as turnover fell to just over £10m.