ICSM Business - Print Industry Insolvency News: the rise and fall of another printing company – Northampton firm runs out of road

By Harry Mottram: Only 18 months ago Principal Mailing of Northampton was ‘beefing up’ its senior management team as it ‘geared up for growth.’ Now the specialist in direct mail and a former trade only printer has gone bust. In an article in the trade publication Print Week journalist Richard Stuart-Turner reported: “Print and direct mail specialist Principal Mailing Solutions ceased trading in December and business advisory firm FRP Advisory is expected to be appointed shortly to oversee insolvency proceedings. Earlier this month, a spokesperson for Principal Mailing Solutions confirmed to Printweek on the phone that the business had ceased trading ‘at the back end of December’. He said it was seeking advice from FRP Advisory. No further information regarding the reasons for the closure or the fate of the company’s staff was disclosed, although the spokesperson subsequently told Printweek this morning (26 January) that FRP was ‘looking to be appointed at the end of the month.’”

Ian Carrotte of ICSM - the business membership group dedicated to fighting bad debts and late payers with many members involved in the print and allied trades – said it was a classic case of closing for the festive period and not reopening. He expressed his sadness at the closure as he knew of its previous name of Mainstream Direct and its managing director and had hoped it could have traded its way out of difficulties. He said: “Obviously there are the staff who will now be out of work while their customers will have to find a new print firm quickly. My main concern is for their suppliers who will be hoping they will still be paid for any outstanding invoices. Closing like that at Christmas is not a good sign so let’s hope unpaid accounts can be settled.”

The firm was established back in 2006 as a one-stop trade printer and mailing house and has been based on the Kingsfield Business Park in Northampton and was believed to have employed around two dozen or so staff.

Some recent casualties in the industry:

ADMINISTRATORS APPOINTED

CESTRIAN IMAGING LIMITED     05367631

DEANPRINT LIMITED    00030846

FARADAY PRINTED CIRCUITS LIMITED     01905822

OSO FIBER UK LTD    12577120

ADMINISTRATION MEETING OF CREDITORS

MONUMENT PAPER BAG CO LIMITED (THE)    00481099

CREDITORS’ VOLUNTARY LIQUIDATION DEEMED IN CONSENT MEETINGS

GREAT YARMOUTH PRINTING SERVICES LIMITED    02785485

JULIE ANNA DESIGN LTD     12038463

PARADOX MEDIA GROUP LTD    12422983

PULSE PRINT AND COMMUNICATIONS LTD    08206224

ZANCO (UK) LIMITED    11351302

CVL LIQUIDATORS APPOINTED

IMAGERY DIRECT IMAGING LIMITED    03864414

INTEGRATED PRINT SOLUTIONS LIMITED    10456333

PEAR MARKETING LTD    12443139

PL LOGISTICAL SOLUTIONS LTD    11227340

SGM PRINTING LIMITED    07920034

MEMBERS VOLUNTARY LIQUIDATIONS

ADEPT PUBLICATIONS LIMITED    02599610

SMILE PUBLISHING LIMITED    03709145

PETITION DISMISSED

ENSIGN GRAPHIC SOLUTIONS LIMITED    05015222

PETITIONS TO WIND UP

PULSE PRINT AND COMMUNICATIONS LTD     08206224

SECRETARY OF STATE LIQUIDATION APPOINTMENT

IMAGE 2 OUTPUT LIMITED    04899814

WINDING UP ORDERS

A & S PRINTERS

SSD EVENTS AND MARKETING LIMITED    11740190

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ICSM, The Exchange, Express Park, Bristol Road, Bridgwater, Somerset TA6 4RR. Tel: 0844 854 1850. www.icsmcredit.com. Ian.carrotte@icsmcredit.com