A heat transfer type multi-color printer which serves to automatically draw out a new ink ribbon with a simple constitution for recording. The multi-color printer includes members for holding/releasing an ink ribbon provided on a carriage which carries the recording head, and two ribbon spools of a ribbon cassette mounted on a printer body constructed to transmit unidirectional turning force of a spacing motor for moving the carriage. With this arrangement, the multi-color printer serves, when recording, to draw out the ink ribbon from one of the ribbon spools during the time the carriage moves in one direction and, serves, with the carriage moving in the opposite direction to hold the ink ribbon and to rotate the two ribbon spools for winding the ink ribbon.