Print industry takes a hammering as furlough ends, Covid related loans are called in and past lockdowns hit cash flow forcing more firms to call it a day

Print industry takes a hammering as furlough ends, Covid related loans are called in and past lockdowns hit cash flow forcing more firms to call it a day

Writing in the trade publication Print Week Darryl Danielli reported on Boss Print who have shut up shop this month due to an ‘unsustainable drop in work.’

The London based company have made the 11 staff redundant blaming the pandemic for the crisis that has seen clients cutting spending on print.

He wrote: “Managing director Fenton Smith said that trading had been difficult since the start of the pandemic, and that despite the firm making use of the furlough scheme, like many print businesses, and the various lockdown respites, the business had run out of time.”

Fenton Smith also said he considered taking out further loans to keep the company going but decided against it saying he was ‘beaten up and worn out’ – a feeling many in business can relate to.

In the same sector Print Week have also reported on Kesslers who have been making workers redundant as they battle to survive.

ICSM noted these details from Companies House last month:

Creditors’ Voluntary Liquidation Deemed in Consent Meetings
CHP Publishing Limited    11610124
Lincoln House Publishing Limited    12434079
P.S. Office Supplies Limited    06748354
Sprint Envelopes Limited    04672168
Liquidators Appointed
Business Print Services Limited    04695882
Colorsign and Print Ltd    07804745
Copyprint (Wales) Limited    07277864
Digital Print & Supplies Limited    12537550
Express Print Limited    02284433
Neon Print Studio Limited    08683638
Print Imp Limited    06232176
P.S. Office Supplies Limited    06748354
Pulse Publishing NW Limited    08377367
See Learning Films Limited    08972127
Signature Signs and Print Limited    12804605
Members Voluntary Liquidations
Arthouse Creative Limited    03978300
Matthews the Printers Limited    01811630
Petitions to Wind Up
Stacked Publishing Limited    10645630

Anecdotally ICSM understands many companies have taken furlough payments and made use of the Government backed loans and grants but have still not been able to survive as the restrictions have eased. When furlough finally ended 1,400 went bust in September 2021, while in the energy sector alone these companies bit the dust last autumn:

PfP Energy – September 2021

MoneyPlus Energy – September 2021

Utility Point – September 2021

People’s Energy – September 2021

Green - September 2021

Avro Energy - September 2021

Igloo Energy - September 2021

Symbio Energy - September 2021

ENSTROGA - September 2021

Pure Planet - October 2021

Colorado Energy - October 2021

Daligas - October 2021

GOTO Energy - October 2021

Bluegreen Energy Services Limited - November 2021

Omni Energy Limited - November 2021

MA Energy Limited - November 2021

Zebra Power Limited - November 2021

Ampoweruk Ltd - November 2021

CNG Energy - November 2021

Neon Energy - November 2021

Social Energy Supply - November 2021

Bulb - November 2021 (in administration)

Entice Energy - November 2021

Orbit Energy - November 2021

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