The company was the subject of legal action over late payment for work by magazine printers Manson Group and Excelprint (PrintWeek, 18 January).
"The only positive thing is they wont be able to ride roughshod over suppliers anymore," said Manson Group sales and marketing director Neil Wass.
A spokeswoman for solicitor Valentine & Co, which was handling Formes affairs and was about to put it into liquidation, said the winding-up order was issued on 15 May, and that the matter was now in the hands of the Official Receiver.
The Official Receiver will hold a meeting with Formes directors within 10 days.
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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."
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