Suffolk-based TFR Print Finishing has entered liquidation owing almost 70,000 to its creditors.
At a creditor’s meeting on 4 December, a special resolution was passed that the company could not continue trading with its liabilities, standing at £69,320.60 to all creditors.
The company was voluntarily wound up with Jamie Playford of Parker Andrews was appointed as liquidator to the company the same day.
The Great Blakenham, Ipswich firm expects to recoup £8,882 for preferential creditors, including book debts of £7,703 that are estimated to realise £7,047.
However, trade creditors are owed a combined £22,513 and, along with outstanding loans from HSBC and tax payments, the company has been found to have a deficit of more than £60,000.
The largest print creditor is D&K Europe, which is owed £4,081. A number of local print finishers and binders are also owed hundreds of pounds as a result of the deficit.
The liquidators are investigating the company’s issues and therefore declined to comment at this time.