ICSM Print Industry Insolvency News: confusion over liquidated firm; Landa clings on to the end of August; and Krystals crashes – plus more media and print firms in trouble

By Harry Mottram: There has been considerable discussion concerning the hike in Employer National Insurance Contributions in the autumn budget with Chancellor Rachel Reeves criticised by many for adding costs to employers and increasing business failures. ICSM has looked at insolvencies of all types over the years as we try to warn firms of potential bad debts and late payers – with our debt collecting division doing good work in recovering overdue cash. The single largest factor in most insolvencies is historic debt – whether loans were taken out during Covid, or to invest in new machinery – or to cover existing loans. A downturn in the economy resulting in fewer orders, hikes in interest rates, inflation increasing or energy costs going up are all contributing factors. Staff costs are also important – whether its wage increases or the aforementioned NI increase – but in general there is a mix of factors – with of course big pay-outs to directors and share holders another wild card.

Confused or continuing

Writing in the printing industry’s trade publication Print Week journalist Richard Stuart-Turner has been charting the fortunes – or misfortunes – of packaging firm Dayfold in Dorset. In early July Alexander Kinninmonth and James Prior of FRP Advisory Trading in Southampton were appointed as joint liquidators he reports – but here’s the catch – a week later they as still answering the phone as Dayfold despite being in the process of being liquidated by FRP.

New information from the firm was promised while Print Week had previously reported on the company linking up with BCP Media Group in nearby Bournemouth which saw the BCP’s manager becoming the boss at Dayfold. The former MD had left in May several staff had been made redundant at the struggling outfit which extended its financial year end meaning accounts won’t be filed until the autumn. Meanwhile suppliers await the outcome of the liquidation.

Landa limps on

At the time it was hailed as a technological breakthrough in printing with the potential of putting litho and digital processes in the shade. Somehow that never happened and now Israel’s Benny Landa’s Nanography is in trouble as lenders and some staff at Landa Digital Printing are unhappy with the financial state of the firm. Print Week’s Richard Stuart Turner has reported that CEO and main shareholder Landa has been given more time by a court with protection from creditors extended to the end of August.

Package firm gone

Packaging manufacturer Krystals in Lincoln and Ellesmere Port has gone bust with the 80 strong staff made redundant. Gareth Harris and Chris Ratten of RSM UK Restructuring Advisory were appointed as joint administrators of A, R & S Shingdia, trading as Krystals, on 23 May 2025, reports Print Week’s Richard Stuart Turner. The administrators will have to untangle the accounts as the firm ‘operated under an unlimited partnership structure with trading names Krystals, Krystals Premier, and Krystals Packaging.’

It is clearly work in progress as Print Week quotes RSM UK: “Following their appointment the joint administrators completed a sale of plant and machinery relating to the bottling plant located at the Lincoln site. The remaining plant and machinery at the Lincoln site remains available and the administrators are seeking to sell this via auction. The administrators continue to explore options for the Ellesmere Port site with parties interested in purchasing the remaining business and assets welcomed to make enquiries.”

More fails

Supplier of lighting, rigging, power and related infrastructure to the television and broadcast industries B360 Limited of Hemel Hempstead has appointed Andrew Hook and Julie Palmer of Begbies Traynor as joint administrators in June. While back in May UK Labels Limited of Oldbury entered administration. Hurricane Media UK Limited, Infinity Print and Mail Limited, and  the Uncharted Press Limited have all had CVL Liquidators appointed.

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Ian Carrotte is the CEO of ICSM - a business membership group dedicated to preventing late payment and bad debts. Ian.carrotte@icsmcredit.com