Alderson creditors owed over 5m following collapse
Thursday, November 8, 2012
Unsecured creditors of the five operating companies of Alderson Print Group (APG) were owed a combined 5.1m at the time of their administration, according to the creditors report.
Alderson Brothers Printers and ABP Web left the largest pool of unsecured debt behind, owing £2.3m and £2.2m respectively, followed by Alderson Point of Sale, which owed £562,012.
Alderson Digital London and the group's trade finishing arm Don Dawson left behind the least unsecured debt at £63,611 and £64,963 respectively.
Almost 45% of ABP Web's £2.2m debt was owed to one supplier, PaperCo subsidiary WebCo, which was owed £956,805.95 at the time of ABP's collapse on 31 August, while fellow paper merchant Premier Paper Group was also hit for £527,504.
Ink supplier Stehlin Hostag was owed £117,239 by ABP Web, while haulage company Neil Taylor was left with an unsecured debt of £117,239 to ABP Web and £37,135 to Alderson Point of Sale, which owed a combined £193,806 to three paper suppliers, including A&R Board (£119,406), Robert Horne (£38,625) and Antalis McNaughton (£35,776).
It was a similar picture at Alderson Brothers Printers, where over 42% of the company's £2.3m debt was owed to three paper companies: Dixon & Roe (£532,095); Hedsor (£252,783); and Stora Enso (£183,319).