West Sussex-based print and design specialist Evonprint (Evon Print Ltd) has fallen into administration, blaming a recent deterioration in trading conditions.
Evonprint, based in Small Dole near Shoreham, appointed Ian Vickers and Chris Stevens of Brighton-based business advisory firm FRP Advisory as joint administrators on 14 March.
The outfit, headed up by managing director Steve Rowland, produced a variety of print work, including calendars, flyers and brochures.
Immediately upon FRP's appointment, Evonprint ceased trading and its 50 staff were made redundant.
FRP said that, after an acceleration in the pace of decline in the wider print market, management took steps to restructure the business but attempts to attract new investment did not materialise. It said the only viable option had been administration.
In a statement, Vickers said: “It is a credit to Evonprint, a Sussex business with 30 years of history, that it sustained trading for the past few years in what has been an incredibly hard market for print businesses.
“With severe overcapacity in the print market margins recently have been completely eroded, placing unsustainable strain on the business's cashflow. It is always a shock when a local business with a proud tradition of strong client service is left with no viable alternative other than to cease trading.”
Vickers added that FRP’s immediate priority as administrators will be to assist former staff with the processing of their claims with the Redundancy Payments Service and to realise the assets in the interests of the creditors. It is currently seeking buyers for Evonprint’s assets.
Founded by Rowland in 1987, family-run Evonprint was popular in the local community, having recently expanded its apprenticeship programme and having printed the calendars for free for the local Love Sussex calendar photography competition.
Rowland was unavailable for comment at the time of writing.