Artisan Press Limited(The) (00394524): administration
- Status
- Administration ended
- Administration began
- 2015-05-14
- Administrators
- Matthew James Cowlishaw, Robert James Harding
- Administrators' firm
- Deloitte
- Incorporated
- 1945-04-07
- Location
- Birmingham
- Industry
- 18129 Printing n.e.c.
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Competition / price pressure
From the administrators' statement
The Company has experienced a number of years of lossmaking trading attributed to a falling demand for printed media, together with increasing levels of competition due to improvements in productivity This led to increasing cash pressure on the Company
Steps taken to remedy/turnaround
The Secured Creditor agreed to support the Company, whilst the directors pursued options to either refinance its debt or run a sale process, both of which were managed by the Company's auditor, BDO LLP At the same time, the Directors focussed on an operational turnaround, consolidating from three sites onto two, and reducing the number of employees
Administrators' statement of proposals (2015-06-25) · Companies House register