ICSM Business – Printing Industry Insolvency News: trade printer bites the dust as business fell away and costs increased

By Harry Mottram: Printing outfit Nottingham Trade Finishers shut up shop on April 3, 2024, having run out of road to maintain business. The firm’s directors Richard and Emma Anstock said: “It is with very heavy hearts that we, the directors of Nottingham Trade Finishers Limited have had to make the extremely hard decision to cease trading with immediate effect.

“This comes after much effort over several months and optimism that firstly the autumnal peak and then March would bring our sector’s usual and historically reliable flourish of sales to close the financial year, but sadly this hasn’t materialised, and we appreciate we are not alone in our frustration.

“The challenges faced by ever increasing overheads, the ‘race to the bottom’ in terms of costing jobs against both ours, and our clients’ competitors has made the business unsustainable to carry on.”

Writing in the trade journal Print Week Joe Francis reported: “The business was established in the summer of 2006, and over the subsequent years the trade finishing sector has seen enormous changes, and a great reduction in industry players and potential clients.

Ian Carrotte of ICSM said: “We have a large number of printing firms as members and there is no doubt the hike in energy prices, fuel costs and the annual rises in paper costs have hit many firms. Interest rates and inflation have all helped to create a perfect storm so if turnover drops many companies will be in trouble. The ideal situation is to keep borrowing at a minimum as we cannot control interest rates.”

The owners told Print Week: ““For many years we enjoyed a buoyant market in which to do business, but the landscape evolved, and we had made our place in a specialist sector which faces challenges of its own that we sincerely hope it overcomes. As a small business we have lost several clients in recent years to a similar fate that we now face,” the statement continued.

“This decision is particularly heartbreaking to deliver to our wonderful staff, most of whom have been with us for many years, some of whom with us since the day we opened the doors in 2006. Without their skill, commitment and loyalty, Nottingham Trade Finishers wouldn’t have been around as long as we have!”

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