Administrative receivers go in at Carlton Barclay

Carlton Barclay Ltd and Litho-Tech Colour Printers, the firm it bought last December, have been placed into administrative receivership with Kroll Buchler Phillips.

Administrative receiver Lee Manning said the Basildon-based companies were trading on and placing orders and that he was looking to sell the businesses as a going concern.

The 200 employees have been informed and the businesses will be advertised in the Financial Times at the earliest opportunity. Debenture holder NatWest appointed Kroll Buchler Phillips.

The companies parent, Carlton Barclay Group, and sister company Carltonbarclay.com are unaffected by the administrative receivership.

Carlton Barclay Ltd recorded sales of 13.5m and profits of 259,000 in the year ending 30 September 2000. Annual report and brochure specialist Litho-Tech made sales of 7.28m and a pre-tax loss of 764,521 for the same year.

Carlton Barclay had added an extra 700m2 to its factory to house Litho-Techs equipment, which includes eight- and 10-colour Heidelbergs.