ICSM Business Membership Group: fighting late and non-payment – Print firm in trouble as administrators appointed while paper board firm admits to late payment
By Harry Mottram: Part of the Dutch CB Printforce group in the UK has closed and appointed administrators. Based in Biggleswade the company was set up in 2019 and produced books, magazines and journals. Print Week’s Jo Francis reported: “CB Printforce UK Ltd filed a Notice of Intention to Appoint Administrators on 30 September, with Sarah Cook and Andrew John of FRP Advisory subsequently appointed on 11 October. Printweek understands the firm has ceased trading.”
She reported that the firm had a workforce of 34 but its operation in the Netherlands are not affected.
Meanwhile Finnish firm Stora Enso has clarified why it postponed paying its suppliers this summer reported the trade publication Print Week. Hans Sohlström, president and CEO at Stora Enso, said: “We value our suppliers, which are central to our operations and our success, and regret any possible impact or inconvenience that these extraordinary actions may have had on them and their business. Our values are to lead and do what’s and right and we are committed to foster a culture of openness and integrity, in everything we do.”
The publication reported: “The cash flow effect of the one-week end of the quarters postponed payments has been on average €70m (£58.6m), which represents approximately 4% of the accounts payable. The company said this is not material in relation to Stora Enso’s total cash flow and liquidity. The situation came to light earlier this week when, on Monday (14 October), Swedish financial newspaper Dagens Industri published an article stating that Stora Enso made a decision to postpone weekly supplier payment runs in the last weeks of June and September 2024 by one week in order to improve the company’s cash flow.”
More firms in trouble in the printing and allied trades:
ADMINISTRATORS APPOINTED
COLOUR MARKETING SERVICES LIMITED 05914019
GREENSHIRES GROUP LIMITED 00759321
SEVERNPRINT LIMITED 01317797
VISION MEDIA ONLINE LIMITED 10356435
ADMINISTRATION MEETING OF CREDITORS
MONUMENT PAPER BAG CO LIMITED (THE) 00481099
CREDITORS’ VOLUNTARY LIQUIDATION DEEMED IN CONSENT MEETINGS
ABACUS PRINT LIMITED
AURORA PRINT AND DESIGN LIMITED 09493944
HICKFORD MARKETING LTD 12809833
CVL LIQUIDATORS APPOINTED
APEX PHOTO AGENCY LIMITED 01953308
ARTEMIS CARDS LTD 14094575
CADA DESIGN GROUP LIMITED 02780401
D.G.N. DESIGN LIMITED 02770100
DARWEN DAY CARE FOR DOGS LTD 10935201
LAKELAND HAMPERS LIMITED 10204893
MACKMEDIA LTD 10266334
TRUESDALES MEDIA LIMITED 10832443
VISUAL COMMUNICATIONS DESIGN LIMITED 04958228
MEMBERS VOLUNTARY LIQUIDATIONS
BIG SKY MARKETING LIMITED 09115742
CHESHIRE DESIGN STUDIO LIMITED 11071051
DAVID DAVIES (WHOLESALE DRAPERS) LIMITED 06484046
INSIGHT PRINT MEDIA LIMITED 06736188
MERMAN MEDIA LTD 10484071
QUAY GRAPHIC LIMITED 04716522
SAHARA WINDOWS(UK) LTD 12087297
PETITION DISMISSED
ENSIGN GRAPHIC SOLUTIONS LIMITED 05015222
WELLPACK EUROPE LTD 06398419
PETITIONS TO WIND UP
A S A P PUBLISHING LIMITED 03905486
CNM MARKETING LIMITED
LSD SIGNS LIMITED 11751791
SECRETARY OF STATE LIQUIDATION APPOINTMENT
IMAGE 2 OUTPUT LIMITED 04899814
UPPER STREET FILM AND TV LIMITED 13112324
WINDING UP ORDERS
A & S PRINTERS 05745694
DIGITAL MEDIA DIRECT LIMITED 10441274
MONSTER PACKAGING LTD 11869235
OKAMI MEDIA LIMITED 11677301
VISION MARKETING AND DISPLAYS LTD SC612226
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ICSM CREDIT
For information on ICSM visit www.icsmcredit.com or call 0844 854 1850.
ICSM, The Exchange, Express Park, Bristol Road, Bridgwater, Somerset TA6 4RR. Tel: 0844 854 1850. www.icsmcredit.com. Ian.carrotte@icsmcredit.com
