The High Court told Printweek that the notice of intention was filed for Sirane Ltd on Wednesday (10 July) by solicitors Squire Patton Boggs on behalf of the company’s directors. They intend to appoint Christopher Robert Pole and Ryan Grant of Interpath in Birmingham. The filing can also be seen on Caseboard.

Telford-headquartered business Sirane became the first company in the UK to take delivery of HP’s Indigo 200k Digital Press last year to enhance its printing capabilities on both flexibles and board.

In the last couple of years the business also launched a range of oven-friendly films and pouches printed with heat-resistant water-based inks and took on the first Bobst Vision CI flexo press in the UK.

Interpath confirmed to Printweek that it is currently advising the company and provided the following statement from a Sirane Group spokesperson: “Over recent weeks, we have been working with our advisors and stakeholders to bring additional investment into the business which will put in place a stable financial platform upon which the business can move forward.

“In order to help us do this, we have taken legal steps to protect the position of the business while discussions with potential investors continue.”

The Business Desk has reported that the company currently employs 190 people.

In its most recently filed accounts at Companies House, for the year ended 31 December 2022, the business reported a turnover of £29.7m, down from £38.5m in 2021. It posted a pre-tax loss of £5.1m in 2022, after reporting a pre-tax profit of nearly £9.7m in 2021.

At that time it employed around 380 staff.

In the director’s report in the 2022 accounts, director Simon Balderson said the end of the government’s Covid testing program had negatively impacted its revenues and it was faced with “significant labour and material legacy costs” when the program was closed.