Mon, 22 Apr 2019 | ADMINISTRATION
A printing company based in Sheffield has fallen into administration after citing difficult trading conditions as the reason for its downfall.
Loop Print was forced to call in RSM Restructuring Advisory LLP to handle the administration process, with partners Jamie Miller and Gareth Harris appointed as joint administrators.
Specialising in litho and digital printing, the company conducted its operations from a 1,490 sq ft factory floor in Digital Works, Sheffield and catered its printing services to clients across the country.
A spokesperson for RSMM Restructuring said: “The decision to appoint administrators was made by the directors of Loop Print after suffering from difficult trading conditions within the printing sector. As a result, the company has ceased to trade.
“The administrators are reviewing all company assets with a view to maximising realisations for creditors.”
Loop Print is known to have invested significant revenues into its state-of-the-art equipment, designed by industry-leading manufacturers, over the recent years. Some of its new technology include the Mimaki UCJV300-160 1.6m wide-format inkjet system, a B2 Komori Lithrone S29 with coater, and a Heidelberg Speedmaster SM 52.
Miller added to this: “The tough trading environment for the print industry has been well documented with more and more content moving online and unfortunately this has led to another blow for the sector.
“We are also seeking to sell the company’s plant and print equipment to maximise realisations for creditors and would encourage any interest parties to contact us […] as quickly as possible.”
It is likely that an online auction will be arranged to raise funds for the assets; potential buyers are invited to express their interests immediately.
For more news stories about administrations click here. For all our administrations listings, click here.
This specialist subcontractor, operating through two divisions, offers comprehensive drylining, steel framing systems, and decorating services, boasting a strong foothold in a high-barrier sector across South East England. With an established network...
The company provides safe, high-quality, professional scaffolding to the commercial, industrial, automotive, defence, and food industries across the UK, and has secured preferred supplier status with many blue-chip organisations.
This company stands at the forefront of cybersecurity innovation, offering unique bespoke solutions internationally, backed by proprietary software unmatched for a widely used application. With strong ties to prestigious organisations and a diverse c...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.