Chapter Press Limited (06966972): administration
- Status
- Administration ended
- Administration began
- 2013-12-11
- Administrators
- Matthew Douglas Hardy, Andrew Turpin
- Administrators' firm
- Quantuma
- Incorporated
- 2009-07-20
- Location
- Birmingham
- Industry
- 18129 Printing n.e.c.
Why it went into administration
- HMRC / tax arrears
- Property / lease costs
- Competition / price pressure
From the administrators' statement
| was introduced to Stuart Andrews and Jonathan Savory, Directors of the Company on 22 November 2013 The introduction was made via the business's finance company, Lloyds Bank Commercial Finance Limited ("LBCF") | was made aware that the Company had effectively ceased to trade as it had exhausted all lines of credit with tts suppliers and had breached tts funding facility with LBCF
The Company operated as commercial printers producing high quality printing for a number of blue chip companies This ts a very competitive marketplace and the Company was operating below optimal levels This in turn was having an effect on the Company's cash flow position
Whilst it was possible that the Company could have considered a Creditors’ Voluntary Liquidation in order to appoint a Liquidator, a number of factors led to the appointment of Administrators Firstly, LBCF favoured an immediate appointment in order to bring under its contro! the collection of the book debts Secondly, the Company's Landlord had outstanding rent and therefore could have disirained against the Company’s assets and finally, the Directors had been tn discussion with a third party regarding a merger and therefore a sale of the Company's assets may have been possible
Administrators' statement of proposals (2014-02-18) · Companies House register