Essex print firm enters administration

Tue, 26 Feb 2019 | ADMINISTRATION



An ailing printing firm based in Colchester, Essex has fallen into administration citing a series of financial struggles as the reason for the company’s downfall.

Pressroom Plus has been forced to call in professional services firm Smith Cooper to handle the administration process, with partners Dean Nelson and Nicholas Lee appointed as joint administrators.

In the meantime, Pressroom Plus’s managing director Ian Richardson had said it is “business as usual” as the company will continue to trade as a going concern, and all 19 members of staff will be retained whilst a new buyer is sought for the company. The firm’s assets include staff, a warehouse which supports ink-mixing facilities, and Nottingham-based site which converts blankets.

Nelson, who is also Smith Cooper’s Head of Business Recovery and Insolvency, said: “At present, there have been several expressions of interest, and negotiations continue to take place. We will strive to secure the best outcome for all involved, and will ensure employees and stakeholders are updated in a timely manner.”

Prior to administration, Pressroom Plus was known for being a one-stop-shop for all printing hardware needs, including that of digital and screen printers and litho printing. It is considered to be one of the UK’s largest independent dealerships within the industry.

However, financial struggles in the face of poor trading conditions over a period of time, paired with the uncertainty that Brexit has levied on many British businesses, has forced Pressroom Plus to call in administrators.

Despite this, accounts for the nine months leading up to 31 May 2018 showed sales figures of roughly £4.7 million, compared to £3.1 million in the previous year, with a pre-tax profit of nearly £17,500.

Potential buyers are invited to express their interests in the business as soon as possible.

Click here to view the Pressroom Plus Limited listing for full details.

For more news stories about administrations click here. For all our administrations listings, click here.


Share this article



Latest Businesses for Sale

Abrasive Products Supplier
UK Wide

Provides a comprehensive range of abrasive products for various sectors including construction, renovation, interior design, joinery, fabricators and engineering. Offers several unique abrasive products to the UK market. Offers invited.

Asking Price: Offers Invited
Turnover: £450,000

LEASEHOLD


Oil, Marine Fuels & Liquids Supplier
UK Wide

Bunker trader and supplier of marine fuels and liquids. Extensive network of global clients. Strong supplier relationships, with many working exclusively with the company. Offers invited.

Asking Price: Offers Invited
Turnover: £11,000,000

FREEHOLD


Heavy Construction Plant & Equipment Supplier
UK Wide

Provides innovative technologies, heavy equipment & associated services to construction, nuclear & transportation industries, including concrete batching plants, volumetric mixers, specialist mixer truck cleaning technologies, asphalt plants, & crush...

Asking Price: Offers Invited
Turnover: £3,600,000


View more businesses for sale

News Search

Latest News

 
17
 
May
 

Greater Manchester staffing firm acquires security services company | BUSINESS SALE

A security services business headquartered in Newton-le-Will...

 
16
 
May
 

Midlothian IT company enters administration with assets up for sale | ADMINISTRATION

An Edinburgh-based IT firm has collapsed into administration...

 
15
 
May
 

Logistics recruiters and distributors snaps up Birmingham-based counterpart | BUSINESS SALE

Challenge TRG Group, headquartered in Wigan, has successfull...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
01
 
Sep
 

Evac+Chair presses forward with expansion plans after MBO | MBO/MBI

Emergency chair maker Evac+Chair has, with the support of ac...

 
15
 
Jan
 

Sohal Foods rescued out of administration by cash and carry firm | ADMINISTRATION

The future of Derby wholesaler and catering supplier Sohal F...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources