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

Wholesale Corporate Patisserie
London, South East, UK

An opportunity to acquire this outstanding wholesale patisserie specialising in absolute top end of the market cakes supplying the elite clients from the top football clubs in their boardrooms, private jets, yachts and other blue chip clients. Offers...

Asking Price: £595,000
Turnover: £1,200,000

LEASEHOLD


Pallet Business
West Yorkshire, Yorkshire and the Humber, UK

The business was established in 2008 and specialises in the production of purpose built pallets to a broad range of customers – many of which are substantial in size. Offers invited.

Asking Price: £449,950
Turnover: £1,180,000

LEASEHOLD


Wholesale Food Business
West Yorkshire, Yorkshire and the Humber, UK

The business wholesales a wide range of food products to the catering retail sector including chilled and frozen foods, fresh fruit and vegetables, ambient food and no food products. Offers invited.

Asking Price: £329,950
Turnover: £1,100,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
26
 
Mar
 

Craft beer company goes under | ADMINISTRATION

With stores in London, Canterbury and Margate, craft beer me...

 
25
 
Mar
 

West Midlands transport company enters administration | ADMINISTRATION

The company behind the Ring and Ride services throughout the...

 
22
 
Mar
 

Scunthorpe nightclub up for sale | BUSINESS SALE

A former nightclub based in Scunthorpe has been put up for s...

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