Another 100 print jobs are at risk after two linked Essex firms fell into administrative receivership.
Lithofast and its parent Progressive Printing (UK) in Leigh on Sea, Essex, would only confirm the London firm handling receivership. The firm, Smith & Williamson also refused to comment, saying enquiries were ongoing. The receiver is Iain Allan.
Progressive Printing (UK) had sales of more than 9m but profits of less than 4,000 in 1998. Its net worth was listed as 1.2m, and credit rating 25,000.
It was incorporated in 1987 and used mainly Roland presses, along with pre-press and finishing kit. It used to be called Kelleway Printing Co and Chelmark Print.
Bill Kelleway is a director and also listed as a director for Lithofast. In 1998 Lithofasts sales were nearly 3.4m, losses 279,000 and net worth 180,000. Its credit rating was 3,000.
Progressive Printing specialised in books, greetings cards, packaging and commercial printing.
Story by Jez Abbott.
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