The company moved to new premises in Aylesbury from Hemel Hempstead last December in an effort to save money, but it had little effect on finances.
However, one of its directors, Richard Healey, who was at the firm for 37 years, has formed a new company, Healey Packaging, to take on the UK distribution of Beck Packautomaten shrink-wrapping machines.
Healey will continue to offer engineering, service and spares, as well as the full range of new machines from his Hemel Hempstead office.
Ballinger Rawlings was set up in 1960 by Kenneth Ballinger Rawlings, who died last October (PrintWeek, 26 October 2001).
"His death definitely had a big effect on the company. His two sons are now 62 and 60 and they dont want to go on," added Healy.
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"Gosh! That’s a huge debt - especially HMRC! It’s a shock that HMRC allowed such an amount to be accumulated."
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