Print among downturn’s hardest hit
Print among downturn’s hardest hit- 26th March 2009
The number of print and packaging companies facing critical problems has risen by 86%, according to a Begbies Traynor report.
The restructuring specialist’s Red Flag Alert compared Q4 of 2007 and 2008. But the survey revealed that other sectors had been worse hit. It claimed that advertising companies had seen a 191% rise in the number of organisations facing severe difficulties in Q4 of 2008 compared with Q4 of 2007. It added that construction had seen a 190% increase in the amount of firms in danger and recruitment and property services had seen a 159% and 156% increase in ‘critical’ companies, respectively.
The Print sector feels the downturn more than many others, as its services are used by all and the banking crisis has hit the print industry particularly hard as the financial services sector was traditionally the biggest user of direct mail to customers.
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