IT Media Station Limited (06684084): administration
- Status
- Administration ended
- Administration began
- 2013-05-17
- Administrators
- Garry Wallace Lock, David James Green
- Administrators' firm
- RSM
- Incorporated
- 2008-08-29
- Location
- Eastleigh
- Industry
- 18129 Printing n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
IT Media Station Limited was incorporated on 29 August 2008 by Adam Murry and he was the sole director until Sarah Murry became a director on 1 December 2010 The company initially traded from premises In Westbourne, Bournemouth
The Company provided a bespoke design and printing service, including signage and wide format printing The Company grew very quickly and by the end of 2011 the turnover had risen from £324,640 for the year ended 31 December 2010 to £765,702 In August 2012, the Company took on additional larger premises in Poole and additional staff were employed to manage the increased work load The Company also invested heavily in plant and machinery, to meet demand and increase the range of products offered
Despite further growth in turnover, this was insufficient to absorb the significant increase in overheads and this resulted in cash flow problems In November 2012 the directors realised that a cost cutting exercise was required to manage the cash flow problems and a number of staff were made redundant Unfortunately, the Company began to fall behind with orders and subsequently three CCJs were lodged against the Company
Administrators' statement of proposals (2013-07-18) · Companies House register