Maurice Payne Colourprint Limited (01825803): administration
- Status
- Administration ended
- Administration began
- 2011-06-28
- Administrators
- Adam Jordan, Nickolas Garth Rimes
- Administrators' firm
- The Wilkes Partnership
- Formerly
- Maurice Payne Colour Limited; Bradleys (Reading) Limited; Quirespur Limited
- Incorporated
- 1984-06-19
- Location
- Fareham
- Industry
- 2222
Why it went into administration
- Property / lease costs
- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
- Bad debts / customer insolvency
From the administrators' statement
The company was incorporated in 1984 as a lithographic printing company and traded from 12 Exeter Way, Theale Commercial Estate, Theale, Reading, Berkshire, RG7 4PF
The company traded strongly over the years supplying high quality print to a large and increasingly blue chip clent base with turnover increasing year on year However between 2008 and 2010 the company suffered bad debts and the loss of a number of major accounts The core customers who continued to trade with the company did so but at reduced prices
As the economy suffered there was a direct impact on supplier prices and the company suffered a rise of 20% in the cost of paper which coupled with reductions in payment terms and credit lines made trading very difficult
Administrators' statement of proposals (2011-08-26) · Companies House register