Manor Creative Limited (03219802): administration
- Status
- Administration ended
- Administration began
- 2016-09-09
- Administrators' firm
- Opus Restructuring
- Formerly
- Manor Group Limited; Manorbourne Ltd; Towerbind Limited
- Incorporated
- 1996-07-03
- Location
- Milton Keynes
- Industry
- 18129 Printing n.e.c.
Why it went into administration
- Funding withdrawn / unable to refinance
- Property / lease costs
- Competition / price pressure
From the administrators' statement
Manor Creative Limited (hereinafter referred to as “the Company”) was incorporated on 3 July 1996 The Company traded as a commercial printer with a varied mix of works from magazines to high end products
Paul Denne (FCCA) joined the Company in 2004, replacing the previous finance director and led a management buyout in 2007 A further 3 directors and shareholders were also bought out of the business over the following years up to 2012 The pmnt industry became very price competitive and profits were declining, and as a consequence the business diversified into re-selling other goods, such as promotional gifts. This assisted in compensating for the decline in print by approaching new markets
Mr Denne had also seen a market for high quality fast turn-around work and invested tn the latest HUV technology Litho printing press and the top end Igen Digital press, both of whitch produced the highest quality work and gave faster production times This increased overall capacity and quality and efforts were made to recruit extra sales people to expand the Company's client base Being based on the South Coast, however, the Director maintained that tt limited the ability to attract suitable candidates Additionally, there was a general decline in the trade, as the market was contracting generally
Administrators' statement of proposals (2016-11-02) · Companies House register