# Odessa Print Group Ltd (01703368)

> Why UK company 01703368 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/01703368

- **Status:** Administration ended
- **Administration began:** 2019-10-18
- **Administrators' firm:** Moorfields
- **Formerly:** Odessa Offset Limited
- **Incorporated:** 1983-03-01
- **Location:** London
- **Industry:** 18129 Printing n.e.c.

## Why it went into administration

- HMRC / tax arrears
- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
- Sustained trading losses

## From the administrators' statement

We understand the events leading to our appointment to be as follows.

As mentioned above, notwithstanding the Company’s effort to introduce an additional revenue stream, it was unable to return to profitability and this in turn led to escalating creditor pressure.

Accordingly, accumulated trading losses sustained during 2018 and 2019 contributed to a working capital requirement in excess of £800k. The Company sought to raise the funding required from a number of sources including external debt and equity providers, although was ultimately unsuccessful due to the financial position of the business

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/01703368/filing-history/MzI1MjAxNjk3MmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/01703368

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.