Addo Printing Ltd (06577348): administration
- Status
- Administration ended
- Administration began
- 2015-12-04
- Administrators
- Lee Van Lockwood, David Adam Broadbent
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2008-04-28
- Location
- Leeds
- Industry
- 18129 Printing n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated in 2008 and traded under the name Addo Printing Limited from incorporation The Company operated in the printing industry, providing printing services, marketing, design and print management services
The Company initially operated on a small basis however, in April 2014 it merged with a company trading under the name Hillprint Media Limited (“HML’) HML had been experiencing financial difficulties and the Company hoped that combining the two companies and their resources, it would strengthen their position and resolve the working capital pressures faced by HML_ The Company became the parent entity of HML, purchasing a 100% of HML’s shares As part of the merger, and in order to benefit from the combined goodwill generated by the entities, HML changed tts registered name to HPM & Addo Limited (“HPM’)
The merger, however, did not negate the working capital pressures and HPM continued to experience cash flow difficulties As such, in October 2014 the director demerged the Company and HPM in order to trade again as two entities
Administrators' statement of proposals (2016-01-19) · Companies House register