It has been reported by the Sunday Times the firm is in need of urgent funding or it could collapse by Christmas, putting 1700 jobs at risk.
Options currently being reviewed include a pre-pack sale, further investment or a ‘debt-for-equity swap’.  

Owned by Sun Capital Partners, Polestar prints a number of well-known magazines including Top Gear, Radio Times and Grazia.

According to Deloitte, the firm has struggled with a poor trading month leading to delays in payment for suppliers and HMRC. Sun Capital Partners bought the printer in a pre-pack deal back in 2011 and only last expanded the business by buying the River Group. 

Over the last few years, magazine and newspaper sales have continued to fall as a result of increased online media consumption. 

More on Polestar to follow….

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