ICSM Print Industry Insolvency News: troubled Manchester printers group continues to unravel as creditors set to bid for Deanprint
By Harry Mottram: The fall-out from the purchase of Deanprint by the Manchester Printers Group (MPG) last July have continued with a meeting of creditors next week (week 16). However the historic firm that were one of several acquisitions by MPG. Ian Carrotte of ICSM said it would appear that MPG had over reached themselves and were now paying the price with jobs and business suppliers the victims.
Writing in the trade journal website for Print Week, journalist Jo Francis reported: “Printweek understands that 22 expressions of interest have been received by KBL Advisory, which is handling the sale, with formal bids required by Tuesday 18 April.”
The firm that was founded in 1890 was considered profitable but had suffered from the take-over say insiders.
She continued: “However, last month it emerged that Manchester Printers Group director Sarah Pinkney was seeking advice on each company’s viability to continue as a going concern, following ‘a significant downturn in our industry and our own businesses’. On 4 April a notice of intention to appoint administrators was filed against Deanprint Ltd. This protects the business from any potential action from its creditors while the sale process is ongoing.
“The business continues to trade while the sale process is ongoing. Deanprint had already been relocated to a new site in Stockport because its old site was sold for redevelopment by the previous owners. In addition, a virtual meeting of creditors of Manchester Printers Ltd is scheduled for 10:15am on 18 April, convened by Pinkney.
“As with the other businesses in the group that have ended up in the insolvency listings of the London Gazette, the insolvency practitioners are Richard Cole and Steve Kenny of KBL Advisory in Sale.”
ICSM have heard from several concerned suppliers to the Manchester Printers Group who fear they may not be paid for recent work. Ian Carrotte said it was another blow to the printing and allied industries in the area as Deanprint was considered ‘sound as a pound.’ He said he hoped the firm would be bought by a firm that invest in the business and make it a profitable concern.
Recent casualties in the printing and allied trades sector include:
ADMINISTRATORS APPOINTED
BLUEFISH OFFICE PRODUCTS LIMITED 03964231
THE IRONGATE GROUP LIMITED 02566762
JOHN BROWN (PRINTERS) LIMITED 02055266
RAM PRINT LIMITED 01311055
ADMINISTRATION CREDITORS MEETING
STAMFORD PAPER COMPANY LIMITED 03203890
COMPULSORY LIQUIDATOR APPOINTED
WOMEN OF THE CITY LIMITED 11714546
CREDITORS’ VOLUNTARY LIQUIDATION DEEMED IN CONSENT MEETINGS
ATLAS TRANSFER PRINTERS LIMITED 02838309
SIGNATURE PRINTING LIMITED 08601950
FRANKLIN SIGN INSTALLATIONS LTD 08174873
HERITAGE PRINT SERVICES LIMITED 04677948
LINK PRINT GROUP LTD 10565953
NOT JUST STATIONERY LIMITED 10147598
PARKER & SON (PRINTERS) LIMITED 01231774
RTW PRINTERS LIMITED 11835532
LIQUIDATORS APPOINTED
A J ENGRAVERS LTD 04818672
ALL SIGN SOLUTIONS LIMITED 04675840
NATIONWIDE FRAME SERVICES (NORTH WEST) LTD 03784819
BENCHMARK PRINT & EMBROIDERY LIMITED 11244745
BUSINESS PRINT (UK) LIMITED 10610610
CMYK LIMITED 08075173
J.B. PRINT FINISHING LIMITED 04626775
PRIORY GRAPHICS LIMITED 09392042
STEPHEN'S PRINT SOLUTIONS LIMITED 07733955
REDDOOR PRESS LIMITED 12025216
RTW PRINTERS LIMITED 11835532
TSM COPIERS LIMITED 03483343
MEMBERS VOLUNTARY LIQUIDATIONS
AGFA GRAPHICS LIMITED 05991659
AGFA-GEVAERT LIMITED 00103198
BRAIN BOX PUBLISHING LIMITED 02830293
JIGSAW COLOUR LIMITED 03462733
MANAGED PRINT & DOCUMENT SOLUTIONS LTD 08153216
RIDGWELL PRESS LIMITED 03089024
INK DISPENSING LIMITED 06449216
ROBERT YOUNGPRINT LIMITED 01768892
PETITION DISMISSED
TRP MAGAZINES LIMITED 02728298
PETITIONS TO WIND UP
INNOVA PRESS LIMITED 10883456
PAYROLL BUREAU DRL LTD 10877556
SPLATT PRINT LIMITED 05882721
THE GREAT ANNUAL SAVINGS COMPANY LTD 08086347
TSM COPIERS LIMITED 03483343
WINDING UP ORDERS
SPLATT PRINT LIMITED 05882721
SOUTHERN PAPER RECYCLING LIMITED 08307898
++++++++++++++++++++++++++++++++
ICSM CREDIT
For information on ICSM visit www.icsmcredit.com or call 0844 854 1850.
ICSM, The Exchange, Express Park, Bristol Road, Bridgwater, Somerset TA6 4RR. Tel: 0844 854 1850. www.icsmcredit.com. Ian.carrotte@icsmcredit.com
About ICSM Credit
ICSM Credit has more than four decades of experience as a credit intelligence group whose members gain inside information about firms in trouble allowing them to avoid bad debts and rogue traders. To join costs less than a tank of fuel - while at the moment there's a special free temporary membership offer during the Covid-19 crisis which gives access to free legal letters. ICSM also has an effective debt collecting service which has a global reach - ask for details from Paul.
For details about ICSM Credit call 0844 854 1850 or visit the website www.icsmcredit.com or email Ian at Ian.carrotte@icsmcredit.com on how to subscribe and to join the UK’s credit intelligence network to avoid bad debts and late payers. Follow ICSM Credit on FaceBook, Twitter and YouTube and Ian Carrotte on LinkedIn.
To keep up to date subscribe to the FREE ICSM Credit Newsletter to hear all the latest insolvency news and to see who has gone out of business click on the orange panel on the top left of the home page of the website www.icsmcredit.com or send an email to Ian.carrotte@icsmcredit.com
For details for the work of the journalist Harry Mottram visit www.harrymottram.co.uk