Wincanton Print Company Limited (02886990): administration
- Status
- Administration ended
- Administration began
- 2020-10-26
- Administrators
- Julie Anne Palmer, Andrew Hook
- Administrators' firm
- Begbies Traynor
- Incorporated
- 1994-01-12
- Location
- Salisbury
- Industry
- 58130 Publishing of newspapers
Why it went into administration
- COVID-19
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Cash flow / liquidity pressure
From the administrators' statement
Somerset based “Wincanton Litho” initially traded as a partnership from 1980 to 1994, until the partners (Stephen Taylor and Lucy Taylor) decided to incorporate as a limited company on 12 January 1994. Stephen Taylor was appointed as sole director.
The Company's main business activity was the provision of printing services. It offered a broad product range which included brochures, business cards, exhibition stands, banners for buildings and car-wraps. The Company traded from premises at 26 Wessex Way, Wincanton, BAY 9RR (“the Premises”) which were owned by the Director personally.
The initial trading period was funded by way of a mortgage provided by Natwest Bank PLC (“Natwest”) which was created on 25 August 1994 and registered at Companies House on 06 September 1994. In addition to this, from 1997 to 2016, the Company entered into a number of finance agreements, primarily with Close Brothers Asset Management Limited (“Close”), which enabled the purchase of various printing machines. The addition of these machines increased the Company’s ability to fulfil larger contracts and resulted in an increase in revenue and, ultimately, profits.
Administrators' statement of proposals (2020-12-23) · Companies House register