City Print (Milton Keynes) Limited (01160914): administration
- Status
- Administration ended
- Administration began
- 2017-06-27
- Incorporated
- 1974-02-21
- Location
- Central Milton Keynes
- Industry
- 18129 Printing n.e.c.
Why it went into administration
- Sustained trading losses
From the administrators' statement
5.1 The Company was incorporated in February 1974 and traded as printers and lithographers operating out of leasehold premises in Milton Keynes. The Company produced bespoke brochures and literature for a varied portfolio of customers including Trailfinders, the Mercedes-Benz brand and the Woburn Estate.
§.2 During the financial year ended 31 March 2016 the Company recorded turnover of £2.4m and a profit before taxation of £123,527.
5.3 Over the following year the volume of sales began to decrease. Consequently turnover dropped to £2.1m for the period ended 31 March 2017 resulting in a loss of £105,007 before tax. The directors were concerned about the future viability of the Company and instructed agents and valuers, Lambert Smith Hampton (“LSH’), Chartered Surveyors, to value the business and assets for the purpose of exploring a sale of the business as a going concern. The directors also concluded that they should seek professional advice on the solvency of the Company.
Administrators' statement of proposals (2017-08-30) · Companies House register