Gemini Print Southern Limited (08530704): administration
- Status
- Administration ended
- Administration began
- 2024-06-10
- Administrators' firm
- Begbies Traynor
- Formerly
- Gemini Press (Southern) Limited; Gemini Press (Southern) PLC
- Incorporated
- 2013-05-15
- Location
- Brighton
- Industry
- 18129 Printing n.e.c.
Why it went into administration
- COVID-19
- Weak consumer demand
- Rising costs / inflation
- Energy costs
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated on 15 May 2013 by John Boyle and Stephen Cropper. John Boyle was initially the sole shareholder of the Company until he resigned from his role as director on 10 November 2016, at which date all of the Company's shares were transferred to Gemini Print UK Limited. The Company was a commercial print solutions firm and has developed a diverse portfolio of clients across a range of industry sectors.
The Company traded successfully for a number of years, with annual turnover consistently around £15m. However, in 2020 the Company began to experience financial difficulties due to the effects of the COVID-19 pandemic. Trading was significantly impaired throughout the pandemic due to increased economic uncertainty and legal restraints which were instated, whilst inflationary pressure brought about by the ongoing cost of living crisis resulted in increased rental and energy costs, which further reduced the Company's profit margins. The Company struggled to recover from the financial difficulties experienced as a result of the pandemic, and a substantial debt owed to the Company was then left unpaid, and is now the subject of legal proceedings. This exacerbated the cashflow problems already facing the Company, and ultimately forced the directors to conclude that the Company’s liabilities were unmanageable.
Despite the best efforts of the directors and management team to address the financial issues facing the
Administrators' statement of proposals (2024-08-09) · Companies House register