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:
PRINTERS AND PUBLISHERS: SIGN INDUSTRY, PAPER & INK MAUNUFACTURERS
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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For details for the work of the journalist Harry Mottram visit www.harrymottram.co.uk