Printalicious Limited (05378360): administration
- Status
- Administration ended
- Administration began
- 2024-08-07
- Administrators
- Manjit Shokar, Bai Cham
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2005-02-28
- Location
- Chatham
- Industry
- 18129 Printing n.e.c.
Why it went into administration
- COVID-19
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
From the administrators' statement
Printalicious Ltd ("the Company”) was incorporated on 28 February 2005 by its current directors, Mike Yeates and Chris Beasley. The Company operated as a print and design business and provided services which include digital printing, signage, screen printing, installation and bespoke design. The Company operated from four leasehold properties situated at Menin Works, Bond Road, Mitcham, London CR4 3HJ.
In March 2020, the Company faced challenges due to the arrival of Coronavirus-19, which led to the retail sector being on lockdown because of government restrictions. As a result, the Company did not receive any customer orders for the next 6 months. In May 2020, the Company applied for and received a Coronavirus Business Interruption Loan Scheme which helped sustain the Company during the pandemic.
In an effort to adapt and innovate, the directors offered packaging services, which brought in new revenue towards the end of 2020. Even after recovering from the impact of Coronavirus-19, the Company continued to struggle with cash flow as their reserves were depleted when trading was minimal. Throughout the rest of 2020 and the beginning of 2021, the directors pursued additional means of funding the Company's working capital needs. Although the Company managed to pay off most of the loans taken out during 2020/21, it still found it necessary to apply for additional funding in the form of asset finance etc to survive during slower trading periods.
Administrators' statement of proposals (2024-09-25) · Companies House register