45 jobs go as Print Processes closes

Print Processes has ceased trading with the loss of 45 jobs after it was placed into administrative receivership.

The east London-based screen printer’s bank, Lloyds TSB, is understood to have appointed Leonard Curtis on 5 July after it declined to grant any more funding.

Augustus Martin co-owners Lascelle Barrow and Barrie Dix are principal shareholders and current non-executive directors of the company, which is an entirely separate entity from Augustus Martin.

Other Print Process directors included Guy Green (finance) and Alan Turnbridge (sales).

A spokesman for Leonard Curtis said the company had suffered from falling sales and had needed more money to sustain its business.

Its last set of accounts, to 31 March 2001, show a gross profit of £1.2m and pre-tax profit of £5,419, but Print Processes had not reported a turnover figure for the past four years.

The Leonard Curtis spokesman said a sale had "proved untenable". A meeting of creditors will be scheduled within three months.

Story by Andy Scott