Frome-based upmarket greeting cards firm Museums & Galleries Marketing has gone into administration with the loss of 23 jobs. Five staff have been retained while administrators try to sell the business.
The company, which designed, published and distributed greetings cards along with a range of stationery and giftware for major museums and galleries as well as high street outlets, had been in business for around 30 years.
It was founded in a London basement by Caroline Humby Teck in 1981 to offer mail order and product development facilities to the cultural sector, particularly museums and art galleries which had, until then, not commercialised their collections. It expanded rapidly, at one time having branches in Paris and New York and producing cards with art works from tge Louvre, the Prado, the Uffizi, and the National Gallery of Art in Washington as well as London's National Gallery and V&A Museum.
More recently it produced cards, gift wrap and stationery with licensed images ranging from children's characters such as Rupert the Bear and Mr Benn to the Wedgwood Museum and the Royal Institute of British Architects.
Following her death aged 56 in 2002 of The Caroline Humby Teck Trust was established, with the sole purpose of preserving the British landscape and it's wildlife. The trust is a majority shareholder in MGML and in previous years had benefitted from a proportion of its profits.
Nigel Morrison of administrators Grant Thornton said the firm had been hit by the failure last year of high street chain Clintons Cards, which had been one of its major customers. It had also been affected by a reduction in orders from charities, resulting in a major dip in sales this year.
Mr Morrison said: “The company implemented a turnaround plan which involved a series of cost reduction measures but which was also dependent on a recovery in sales. Further funding was provided by the company’s shareholders.
“Unfortunately the market did not operate in the company’s favour and sales did not recover as expected, which was partly due to reductions in order levels from certain charities which were dealing with the effect of reductions in their own income. Sales then declined significantly in May 2013, leading to unsustainable cash flow pressures.”
He said talks were taking place with several parties over the possible sale of the company’s business and assets.
Any interested parties should contact Matthew Whitchurch at Grant Thornton on 0117 305 7752 or matthew.whitchurch@uk.gt.com
