A digital printing company has been rescued from administration, saving 30 jobs.

NXP Europe, which prints a range of products from business cards to outdoor signage from its base in Tunbridge Wells, was sold to Tonbridge-based VR Print less than 24 hours after appointing Quantuma as administrators.

The firm had fallen into difficulty after bad debts of about £131,000 reduced its ability to obtain funding, with a major creditor putting strain on cashflow.

It had also faced challenging general trading conditions this year.

Joint administrator Andrew Watling, who was appointed on Friday, July 21, said: “NXP Europe had faced bad debts, but it was a fundamentally good business which was capable of being rescued.

“Prior to administration, the company’s directors attempted to recover but when increased pressure from a major creditor started to hit cashflows we were called in as joint administrators.

“We were able to accept the best offer and complete a sale shortly after our appointment, resulting in 30 jobs being saved.”

NXP was founded in 2002 and has completed projects for Save the Children, Knight Frank, Sittingbourne-based COOK and the Perfume Shop.

Joint administrator Carl Jackson added: “A going-concern sale was considered essential so that we could maximise the potential disposal value of the business.

“This enabled a seamless transfer of the trade, assets and employees to VR Print Limited within 24 hours of the appointment of administrators.

“This is a great result for all concerned.”