Wed, 13 Feb 2013 | ADMINISTRATION
Argall Solutions, trading as Alito Color Group, has entered administration after suffering severe cash flow difficulties.
A third party, Litho Supplies, had requested a winding-up petition against the firm at the end of January 2013. Argall Solutions then filed its intention to bring in administrators on 6 February.
On appointment of the administrators Paul Ellison and Gareth Roberts at KRE Corporate Recovery, the 40-strong workforce all lost their jobs.
The firm had sold two of its three KBA presses in an effort to stem the loss of cash, replacing them with two second-hand Heidelberg presses. The actions proved to be insufficient.
Joint administrator Mr Ellison told PrintWeek: “The company had recently suffered heavy trading losses and was attempting to restructure by negotiating a Time to Pay arrangement with Her Majesty’s Revenues and Customs and refinancing plant and equipment.
“However, sufficient funds could not be raised against the plant to enable the company to survive. I had not funds with which to guarantee wages and therefore no option but to make all employees redundant.”
Based in Leyton, East London, Alito used various printing machines to offer litho and digital printing, sheet fed, digital and direct mail, personalised print and print management services etc.
The firm previously entered administration in February 2011, with the administrators at UHY Hacker Young selling the business to the managing director at the time, Mr Collins.
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