A meeting of creditors will take place today (20 July) at Colophon Design & Print, the east London-based financial and retail printer.
Insolvency practitioner Fisher Partners confirmed it was handling the case, but would not comment on why the meeting had been called.
ICSM partner Steve Mepham said: "The only reason to call a meeting of creditors at such short notice would be either for a Creditors Voluntary Arrangement (CVA), which is highly unlikely, or under section 98 of the Insolvency Act."
Colophons turnover for 1999, the last reported figure, was 4.2m. Pre-tax profits were 142,000.
It is understood that unwise investment may have contributed to the firms downfall.
In 1999 Colophon bought Modell Print, a move that took it into CTP (PrintWeek, 17 September, 1999).
Have your say in the Printweek Poll
Related stories
Latest comments
"Gosh! That’s a huge debt - especially HMRC! It’s a shock that HMRC allowed such an amount to be accumulated."
"Whatever happened to the good old fashioned cash job! At least the banks didn't take 2-3% of each sale. After 30 odd transactions that £100 quid you had has gone."
"It's amazing what can be found on the "web" nowadays!"
Up next...
Major incident was declared
Landmark former printworks destroyed in blaze
Discussions are continuing
CWU updates on USO reform
First industry job was at Xerox
