Wed, 09 Apr 2014 | ADMINISTRATION
Print Logic Limited, a Marden-based commercial printer, has entered administration with debts of £1.2 million.
Simon Plant and Daniel Plant of SFP Group were appointed joint administrators of the company on 31 March. They have said that the business will continue to trade while a buyer is sought.
The firm produces marketing material for customers as well as providing direct mail services. It had run into financial trouble after cashflow problems meant it could not pay creditors, leading to the administrators being called in.
Formed in 2009, Print Logic has a turnover of around £4 million, with a client list that includes Aegas, the NSPCC and The British Red Cross.
A spokesman for the administrators said that there had been "a good level of interest in the business and its assets". He added that there had been no redundancies as of yet.
Joint administrator Simon Plant said: “Print Logic experienced cashflow difficulties due to its liabilities and severe creditor pressure has led to the company being placed into administration.
“We are continuing to trade the company in the short term to maintain goodwill, while looking to sell the business and assets as a going concern."
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