Envelope Printing Company Limited (01413494): administration
- Status
- Administration ended
- Administration began
- 2011-09-22
- Formerly
- Balfil Limited
- Incorporated
- 1979-02-06
- Location
- Poole
- Industry
- 7487
Why it went into administration
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
The company was incorporated on 6 February 1979 as Balfil Accounting Services Limited, changing its name tn 1984 to Balfil Limited and then, in April 2003, to Envelope Printing Company Limited (“EPC”) The company was part of the Versapak Group of companies trading from Erith, Kent EPC was an envelope overprinting business purchasing finished plain envelopes and overprinting them for trade and end users The company entered an invoice finance agreement with Lloyds TSB Commercial Finance Limited with regard to the company’s book debts
In the Autumn of 2010 the directors of EPC met with the directors of Crossways Envelopes Mnf Ltd, an envelope manufacturing company situated near Erith, in Dartford EPC was purchasing around £2m of plain finished envelopes per year and there seemed to be good synergies between the companies
The owners of Versapak Group agreed to sell EPC, with two smaller companies, to a new holding company, Commercial Envelope Group Limited (“CEG”) The purchase was completed on 16 December 2010 The purchase was funded through loans from an investor, International Assets & Resources Ltd
Administrators' statement of proposals (2011-10-31) · Companies House register