Thames Print Room Limited (04803153): administration
- Status
- Administration ended
- Administration began
- 2011-04-06
- Administrators
- Christopher Kim Rayment, Martha Honara Thompson
- Administrators' firm
- BDO
- Formerly
- Abbots 313 Limited
- Incorporated
- 2003-06-18
- Location
- Reading
- Industry
- 2222
Why it went into administration
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
21 The business was founded in 1974 offering reprographics services in the Reading area. As the business developed it diversified tts service offering into general printing. In 1984 the business moved to its current freehold premises at Unit 1, 8 Portman Road, Reading, RG30 1EA The Company itself was incorporated on 18 June 2003 as a vehicle to acquire the business from its previous owners.
22 The acquisition of the business was funded by a loan provided by the Bank, which holds a fixed and floating charge over the business and assets of the Company under a debenture dated 30 January 2004 in addition to this, the Bank also holds a fixed charge over the freehold property at Portman Road.
2.3 The business had been profitable for a number of years and was operating from three branches 1n Reading, Thatcham and Stough, when during 2006, the Company suffered the loss of several key contracts, putting significant strain on the Company’s cashflow. Asa result, the Company arranged for an overdraft facility in the sum of £50,000 with the Bank 1n addition to tts existing invoice discounting facility
Administrators' statement of proposals (2011-05-25) · Companies House register