Begbies Traynor Southend branch insolvency practitioner Adam Mitchell confirmed he was dealing with the firm, which would go straight into liquidation.

He said: It has ceased to trade. It wont be placed into liquidation for around fortnight, after it has completed the statutory notice period.

Mitchell said that he was forced to close the companys doors after it became clear that it was not trading solvently. He said that the amount owed to creditors was unknown at the moment.

However, ICSM sales director Rupert Rudd said: At the moment we are aware of several substantial creditors, across all sectors of the trade. It will be another blow to a much-beleaguered industry.

Ventura Complete, which changed its name from Ventura Litho on 23 December 2002, had a turnover of over 8m in 2002 and made a much reduced pre-tax profit of 3,133.

However, records at Companies House show that in November last year a new firm called Ventura Litho was incorporated, and a firm called Ventura Works was also incorporated in December. Both have common directors with Ventura Complete Malcolm Parr, Alan Bruce and Anthony Hall.

A former employee of Ventura Complete said that when the company went under the order book had been very low and the creditors list quite high.

Last Friday [27 June] we were told that the company was trading insolvently, and it was shut there and then.

Ventura factfile
July 1986 Ventura Litho incorporated
Dec 2002 Linkforce becomes Ventura Litho, and on the same day the original Ventura Litho changes its name to Ventura Complete. It has directors in common with Ventura Complete and Ventura Litho
June 2003 Ventura Complete ceases to trade 50 jobs lost

Story by John Davies