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CMYKhub pulls out of UK for regional focus

Wednesday, 24 April 2019
By Wayne Robinson

Strategic focus for region: Trent Nankervis, CMYKhub

Australia’s biggest trade printer CMYKhub is exiting the UK on Friday, citing a change in strategic direction with a focus on its Australasian businesses, coinciding with a lease ending, as the reason.

The company established an Indonesian business nine months ago, DFlow, which it is aiming to grow, and it is looking at entering the New Zealand market. Indonesia is seen as a huge growth opportunity, with one of the world’s biggest populations and millions of young people currently in university.

Trent Nankervis, CEO of CMYKhub said, “The closure of our UK business is one of the steps in our strategic focus on other opportunities within the Australasian region.”

CMKYhub entered the British market five years ago when it took over midlands-based trade printer RCS.

In a statement the company emphasised the closure of CMYKhub UK is not due to financial issues. “It was triggered by our current lease agreement ending in May and followed a detailed assessment of future growth opportunities in the UK based on asset reinvestment requirements, limited revenue returns in a market with aggressive competitors and high cost inputs.”

The company has come to an agreement with UK trade printer Where The Trade Buys (WTTB) for it to handle the CMYKhub customer list, which numbered around 1000 printers. WTTB is owned by Precision Printing which has a $50m turnover. It will also buy the CMYKhub Scodix. Its KBA offset press and various finishing equipment will be sold separately.

All CMYKhub UK staff will receive full entitlements under their redundancy, and all creditors will be paid in full. There are some 20 staff on the books, a handful will transfer to WTTB.

CMYKhub is Australia’s biggest trade printer, with manufacturing in virtually every state.

3 Responses to “CMYKhub pulls out of UK for regional focus”

  1. April 24, 2019 at 12:49 pm,

    said:

    Im assuming brexit, and the first of many im sure.

  2. April 24, 2019 at 4:45 pm,

    Comrade Dave
    said:

    I Dont think Brexit has anything to do with it.
    uk printers dont seem to have embraced outsourcing of print in great numbers and still prefer to print themselves. –
    UK trade printers dont just print for the trade but have their own customers as well.
    The trade only model is poss. not the right model for uk. – just not enough print coming through at the right selling price.

  3. April 26, 2019 at 11:33 am,

    banksy
    said:

    Also, have a look at any British printer’s pricing – it’s an insanely cheap market. I was talking to a Brit once who couldn’t understand how we got away with charging so much for business cards here.

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