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

Authentic Sardinian Restaurant
Stoke Newington, North London, London, South East, UK

Il Bacio Express, an authentic Sardinian restaurant which was established by our client in 2000. Our client is now looking forward to moving back to Sardinia. Il Bacio Express opened in 2000 as a pizza and pasta café. Since then the business has grow...

Asking Price: £345,000
Turnover: £464,228

LEASEHOLD


Nationwide Loss Adjuster
UK Wide

Specialises in providing complete, responsive loss adjusting services for property, motor, goods in transit and liability insurance claims. The shareholders are offering the business for sale due to their retirement plans. Offers invited.

Asking Price: Offers Invited
Turnover: £327,000

FREEHOLD


Gas Leakage Repair Solutions & Pipeline Corrosion Protection
UK Wide

Gas leakage repair solutions and pipeline corrosion protection to the utilities industry. Strong second-tier management team in place able to run the day-to-day operations of the business. Offers invited.

Asking Price: Offers Invited
Turnover: £2,800,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
22
 
Jan
 

Jewellery retailer enters administration | ADMINISTRATION

A Nottingham-based jewellery and watches company has fallen ...

 
19
 
Jan
 

Luxury lodging group enters administration | ADMINISTRATION

An Essex-based company which operates eight luxury lodge par...

 
17
 
Jan
 

Fine paper business enters administration | ADMINISTRATION

Arjowiggins UK, which operates a number of trading companies...

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