Administrators Look For New Buyers of Graphic Design Business Print Warehouse
SFP, the nationwide insolvency practitioner, is in negotiations with interested parties over the sale of the business and assets of Lansdowe Limited trading as Print Warehouse.
Print Warehouse is a graphic design, digital print and finishing agency that was incorporated in September 1985. The company employs seven people at its base in Rayleigh, Essex. Despite achieving a turnover of c£500,000 last year, it fell into difficulties as a result of poor cash flow.
The company struggled to meet its payment obligations to creditors and HMRC. HMRC subsequently looked to take action against the company in light of the arrears.
Given the company’s position, the floating charge holder appointed Simon Plant and Daniel Plant of SFP as Joint Administrators on 20th August, 2019.
Following their appointment, the Joint Administrators have conducted a valuation of the business and assets and undertaken a marketing campaign. “Negotiations are continuing with interested parties in order to seek a going concern sale and to secure the business going forward, protecting employees and customers,” says Simon Plant.