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Print Week report on 'forensic accountants' investigating Callprint

Print Week report on 'forensic accountants' investigating Callprint

Administrators looking into the filed accounts of Callprint have deployed ‘forensic accountants’ as part of an investigation prior to the firm’s entry into administration.

Writing in the newly redesigned Print Week magazine Jo Francis said: “According to the latest progress report to creditors by Philip Duffy and Benjamin Wiles of Duff & Phelps, the joint administrators have identified “several transactions” prior to the administration that required further investigation.”

She said that a number of creditors are known to have raised concerns with the administrators about the sale of Callprint’s Dubai-based business, Call Print Express, to the group’s then-managing director Steve Cheek less than a month before Callprint filed an intention to appoint administrators.

And she reported that Duff & Phelps has called upon its forensic accountancy department to analyse the companies’ accounts going back a number of years. She writes: “The Callprint Group of companies involved a complex web of businesses. The report relates to Call Print Group Ltd and Call Print Services Ltd. The other related companies are Call Print UK, Premier Reprographics, Redwood Press, Digital Printing Images, and TR 1.2. Callprint companies owed trade creditors more than £1.2m at the time of the administration. Hobs Group bought most of Callprint’s trade and assets in a pre-pack deal at the end of August 2018. The administration has been extended until August 2020.”

For the full story see https://www.printweek.com/print-week/news/1168946/callprint-admins-pursue-beneficiaries-of-prior-deals

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