A YORK printing business is reported to be up for sale amid a possibility of administrators being appointed.

Trade publication Printweek says YM Group filed notices of intention (NOI) at the High Court on Friday to appoint administrators for its subsidiary York Mailing at Elvington, and to have done the same for two other subsidiaries, Pindar (Scarborough) Ltd in Scarborough and YM Chantry Ltd in Wakefield.

But it also reports that the company has called in advisers FRP Advisory to hunt for a buyer of the subsidiaries.

It said Stephen Goodman, chief executive of YM Group, had said that it was by no means certain that administrators would be actually appointed and the NOI was 'procedural.'

Printweek also said YM Group had assured employees that they would be paid this month, as a deadline loomed in the fast-track sale process.

It said that an announcement to employees had been made, saying there were potential buyers for the businesses, and staff were being asked during this difficult time to continue to work with a 'business as usual approach' and ensure customers were looked after.

It added that in the financial year to 31 May 2020, York Mailing had sales of just over £26m, and made an operating profit of £2m, with 108 staff.

When The Press contacted York Mailing to ask Mr Goodman for comment on the stories, a member of staff said neither he nor anyone else was available for comment, but it was 'business as usual' at the firm.