Tower Printing and Design Limited (05765414): administration
- Status
- Administration ended
- Administration began
- 2014-05-23
- Administrators
- Jeremy Karr, Ian Franses
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2006-04-03
- Location
- London
- Industry
- 18129 Printing n.e.c.
Why it went into administration
- Loss of a key customer, supplier or contract
- Bad debts / customer insolvency
- Competition / price pressure
From the administrators' statement
Tower Printing Limited (“TPL”) commenced trading in 1989 as an offset litho printing business, offering traditional print to a widespread chent base Items produced were brochures, reports, posters, corporate stationery, magazines, flyers and the like
TPL was 100% owned by Bob Cunningham and Darren Moorhouse was subsequently made a director (but not a shareholder) TPL had a good reputation and was a very profitable business In early 2006 Bob Cunningham was looking for an exit plan and approached Darren Moorhouse with an offer to purchase the business
After much consideration Darren Moorhouse approached Gavin Jones and Neil Burton who together ran a reprographics business within TPL’s premises known as ‘Energy Digital Imaging’ with a view to their joining him in taking over TPL In June 2006 with the advice of their lawyers and accountants’ they formed ‘Tower Printing And Design Limited’ which purchased the assets of TPL including all equipment and providing for the transfer of all staff Personal guarantees were given by the Directors on the Company’s leasehold premises and in addition personal guarantees were given for the purchase of the financed equipment
Administrators' statement of proposals (2014-06-30) · Companies House register