C.E.M.Press Limited (00741079): administration
- Status
- Administration ended
- Administration began
- 2020-01-08
- Administrators
- Tom Straw, Simon Robert Thomas
- Administrators' firm
- Moorfields
- Incorporated
- 1962-11-16
- Location
- London
- Industry
- 18129 Printing n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
We understand the events leading to our appointment to be as follows.
As mentioned above, notwithstanding the Company’s efforts to introduce lower pricing to increase revenue, this was not sufficient to enable the Company to trade profitably. Furthermore, the Company was experiencing operational inefficiencies leading to working capital constraints and increasing creditor pressure.
Accordingly, the Company was introduced to Moorfields by its ultimate shareholder, CEPS Plc, on 25 November 2019. In March 2019, CEPS Plc acquired a complementary sample book manufacturer, Travelfast Limited - In Administration (“Travelfast”). IGF hold a cross-guarantee in respect of Traveifast and the Company.
Administrators' statement of proposals (2020-02-27) · Companies House register