# GHG (Realisations) PLC (01794199)

> Why UK company 01794199 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/01794199

- **Status:** Administration ended
- **Administration began:** 2012-11-28
- **Administrators:** David John Standish, Allan Watson Graham
- **Administrators' firm:** KPMG
- **Formerly:** Goodhead Group PLC; Goodhead Print Group PLC; Scanbond Limited
- **Incorporated:** 1984-02-23
- **Location:** London
- **Industry:** 18129 Printing n.e.c.

## Why it went into administration

- Competition / price pressure
- Funding withdrawn / unable to refinance
- Pension deficit

## From the administrators' statement

GHG was wholly owned by Sir John Madejski and BGHP and SP are wholly owned subsidiaries of GHG. BGHP specialise in the provision of web-offset printing services from its base in Bicester and SP offered sheet-fed offset printer services from premises in Banbury. The Group had 518 employees and printed a mixture of long-run magazine titles and directories,

The Group made a net loss of £4.7 mullion for ‘the year ended 31 May 2012 (per the Gioup’s draft financial statements) and had been experiencing financial difficulties as a result of continued price pressures in a highly competitive printing industry The Group operates a defined benefit pension scheme which 1s closed to new members. However, based on the latest actuarial valuation undertaken in 2009, the pension deficit was £23,3 million,

Sir John Madejski has funded the Group throughout his tenure as shareholder since 2004 and as at 30 September 2012 total funding provided by him amounted to £803 milhon (£40 9 millon in equity and £39.4 million in debt) The debt was secured by means of a second charge over the assets of the Group. In addition, Sir John also issued personal guarantees to certain suppliers and financiers

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/01794199/filing-history/MzA3MTYyNzI1NmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/01794199

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.