A major Dundee firm has announced it is to close its premises at the cost of 115 jobs.
Senior members of Flint Group, based on Old Glamis Road, have tried to find solutions to “significant and worsening financial losses” but after meetings with GMB and staff representatives, they have been unable to find a positive outcome.
The print solutions company said none of the proposals formed were able to deliver the required £3.6m worth of savings to rescue the facility.
David Wood, Flint Group Operations Manager, said: “It was vital for them to understand the severity of the situation and the gap to be filled by any of their recommendations.
“For a proposal to be seriously considered as robust and resilient to the ongoing market decline, a minimum of £3.6m worth of savings needed to be identified.
“Although a lot of hard work had gone into the proposals presented, they still remained substantially below the required amount to rescue the facility, against the backdrop of an irreversible declining market.”
Tony Lord, Vice President and General Manager of Flint Group’s Print Media Europe division added: “This is a very sad day for all of us, everyone has pulled together over the past few weeks to see if another option could provide a sustainable future for the facility.
“However, it is an extremely challenging marketplace at present, especially when established national newspaper groups such as the Independent announce a move entirely away from print to online.
“We have stated from the beginning our responsibility to our employees and our promise to ensure this difficult process would not be drawn out unnecessarily, leaving people with uncertainty about their future and potentially providing false hope.
“Now a decision has been finalised, the consultation process will enter discussions on enhanced redundancy packages, as well as how we can best support our employees, working closely with partners such as Pace to provide career support and re-training opportunities.”