The firms aggregate debt is 1.08m and creditors include A1 Paper (15,445), Clarence Paper Sales (50,581), Elliot Baxter Paper & Company (170,112), Papyrus (9,299), Premier Paper Group (33,923), Rosemount Paper (12,951) and Southern Paper Group (55,300).
As PrintWeek went to press the status of Faculty was unclear with Smith & Williamson unable to confirm whether the assets and goodwill of the company had been sold.
One creditor said: "We were informed that there was a problem on 6 June. We are pursuing Faculty for a considerable sum, but whether or not we get anything is another matter."
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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."
"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!"
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