Aiming to sail into new territory

ENTREPRENEUR Andrew Pindar has appointed advisers at KPMG to find an investor or buyer for his UK printing business.

By The Newsroom

Published 5th Jul 2011, 10:07 BST

Scarborough-based Pindar reported pre-tax loss of £1.4m on a turnover of £58.6m last year.

Mr Pindar told the Yorkshire Post: “For us to move through to a profitable operating model requires investment of a kind that I cannot achieve from within.

“Hence I am reaching out to external investors to show them we have a viable business going forward, which requires some reorganisation and restructuring to achieve it.”

He said the wider printing industry is in a state of distinct flux.

Pindar is a historic name in Scarborough. The family owned company was founded in 1836. It employs around 480 people and has operations in the seaside town and Preston.

He has a separate business which backs the Team Pindar sailing team. A spokeswoman for KPMG declined to comment.