STAFF at a Bradford printing company with more than 200 workers fear for their futures amid rumours of a last-minute deal being struck to rescue the firm from going into administration.
Workers due to be paid their monthly wages by Global Media Production Ltd in Battye Street in Laisterdyke yesterday contacted the Telegraph & Argus to say they had been told on Tuesday that no money was available.
Global MP was formed in November last year via the re-naming of St Ives Direct Bradford, which investment group Cogent B2B, headed up by Kevin Dunstall, bought in a £8 million deal last September.
When the T&A visited the site yesterday, no-one, including Mr Dunstall, was available to comment on the wages issue, or rumours of a possible takeover of the firm.
It had been reported that the London-based Wyndeham Group were about to step in to rescue Global MP from the threat of administration, but Debbie Read, Wyndeham Group commercial director, said she could not make any comment.
It has also been reported that Baker Tilly had been approached as prospective administrators at Global MP, but a spokesman for the chartered accountancy firm said it had not been appointed.
One member of staff at Global MP, who did not want to be named, said the company secured new financial backing late yesterday afternoon, staving off the threat of administration.
"People are still worried, as it seems wage cuts and redundancies are inevitable," he said. "They have known there was no money to pay the wages for weeks, but staff were only told at the last minute.
"Wages are now due to be paid next Tuesday, but that remains to be seen."