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(CNS): Compass Media, the parent company of the Cayman Compass and Compass Print, will close the print shop for good on 30 April with an undisclosed number of redundancies on the cards, according to a notice posted on its social media pages.
While the newspaper, now published just once per week, will still be printed here, the commercial printing service, which has been open for decades, is coming to an end due to rising costs, the company stated.
The notice said that a steep rise in operating costs, from paper to insurance, as well as ageing machinery was behind the closure.
The company said that in the absence of any duty waivers on printing machinery or printing materials, it was very difficult to compete with services offered in the United States.
The news comes less than two years after Compass Media announced an expansion of its printing services and an investment in new digital equipment.
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