YM Group acquires Polestar Chantry - or does it?
Yorkshire’s YM Group has reportedly taken over Polestar’s Chantry site. In a statement released to PrintWeek, a spokesperson said that they were “delighted to welcome the former Polestar Chantry operation to the YM Group.”
However, this morning, the financial director of YM Group issued a “no comment” when Prolific North sought to confirm the news.
Polestar went into administration after losing a number of major contracts, including Immediate Media Co and DMG Media. Administrators have already closed down some plants, including its Sheffield operation, with the loss of more than 500 jobs.
According to the statement sent to PrintWeek, YM Group said:
"Despite the well documented difficulties of the Polestar Group over recent times, the Chantry operation has continued to maintain its strong reputation for quality and customer service, which is a testament to the professionalism and dedication of its workforce.
“We expect the business will continue its focus within the periodicals and publications markets, with the product offering expanding over coming months following the acquisition of additional finishing capabilities; we would also expect further significant capital investments to be announced during the remainder of 2016.
“We believe this investment, combined with the substantial print and finishing capabilities already present within the YM Group (York Mailing, Pindar Scarborough and The Lettershop Group), complimented by the marketing and data analytics business, Go Direct, means the enlarged YM Group is uniquely placed to service the needs of its current and future customers.”