A manufacturer and printer of custom labels has been sold out of administration, safeguarding 18 jobs.
Paramount Labels & Tags supplies a wide range of self-adhesive label products to various sectors including pharmaceutical, food and beverage.
But administrators from Begbies Traynor in Birmingham said the Cannock-based company fell into trouble following increasing cash flow issues and growing creditor pressure over recent months.
Mark Malone and Gareth Prince, from the financial services firm, were appointed as joint administrators in November and worked closely with various stakeholders to undertake an accelerated sale process for the business and its assets.
Paramount Labels & Tags has now been sold to Stourbridge-based Customark which also provides industrial label and printing services.
Mr Malone said: "Having reviewed the company's financial position, it was concluded that selling the business out of administration was a realistic objective and would provide the best outcome for employees, suppliers and customers by securing continuity of supply.
"The company has a good reputation in its sector and the level of interest received during the sale process was very positive."
