Kent-based printer to be liquidated

Tue, 12 May 2015 | ADMINISTRATION

A printer based in Tunbridge Wells is set to be liquidated later this month.

Reports from PrintWeek confirmed that Printwells ceased trading on 30 April and will be placed in to voluntary liquidation on 20 May.

Printwells was due to celebrate 25 years in business, but will now be dissolved, with David Thorniley of Traverse Advisory brought in to handle the matter, however a liquidator has not yet been appointed.

The team are now looking at the company's assets, which are thought to include its land, building and potentially some of the printing machines. A creditors' meeting will be held at a later date.

A former staff member spoke to the publication, noting that the team had been told the directors were going to “try and save the company if they can”. However, it appears that this was not deemed possible and he later told of the staff's reaction: “The marketing and sales staff [at Printwells] were in the process of setting up a celebration for 25 years – everybody's very sad about it.”

Printwells isn't the first printing company to face struggles in 2015. In March, Enfield-based The Magazine Printing Company was sold in a pre-pack administration to its former owner Anthony Stokes after a previous change of hands with the business didn't go to plan and cashflow struggles and a lack of credit pushed the firm to breaking point.


View the latest companies in liquidation.


Share this article



Latest Businesses for Sale

Luxury Kennels & Cattery
Yorkshire and the Humber, UK

Luxury kennels and cattery with professional grooming parlour (licensed for 142 dogs and 26 cats) in Peterborough for Sale. An opportunity to acquire this luxury kennels and cattery with stunning spacious four bedroom detached residence which must be...

Asking Price: £1,500,000
Turnover: £522,542

LEASEHOLD


Haulage Business
South Wales, Wales, UK

The business has been established for a number of years and has been owned and operated by the founder since that date. Offers invited.

Asking Price: £850,000
Turnover: £2,595,443

FREEHOLD


Bar & Function Room
Ilkley, Yorkshire and the Humber, UK

Situated in the heart of Ilkley town centre just off the busy Brook Street. The yard is a stylish bar offering a wide range of drinks, good, quality food, music with varied DJ’s and live artists all encompassed in an interesting layout. Offers invite...

Asking Price: £775,000
Turnover: £600,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
22
 
Mar
 

Scunthorpe nightclub up for sale | BUSINESS SALE

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

 
21
 
Mar
 

Kent Logistics provider completes a successful acquisition | BUSINESS SALE

A Kent-based personalised logistics provider, backed by Livi...

 
20
 
Mar
 

Warrington construction company enters administration | ADMINISTRATION

A prominent construction business headquartered in Orford Gr...

Free guide: 10 Biggest Buyer Mistakes

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

Email


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