The NOI was filed at a court in Birmingham on 4 August.
Managing director Chris Knowles told Printweek: “BCQ is not in administration, but has filed a Notice of Intention to Appoint Administrators.
“Like many other businesses in the print sector, BCQ was significantly impacted by the pandemic, leading to increased debt and market adjustments.
“Despite this, BCQ remains EBITDA positive, and continues to trade while it works to secure BCA’s future through restructuring.”
Printweek understands that employees of the business were informed about the situation yesterday.
Knowles said the directors were working to expedite the sale process.
The Buckingham-headquartered firm posted sales of £10.2m in the year to 31 March 2022, and reduced its operating losses from £735,833 to £282,223.
The group offers a range of services spanning creative production, high-quality print, large-format printing, mailing, and warehousing and fulfilment.
However, despite the improved performance the business breached its banking covenants regarding a commercial mortgage. HSBC waived its rights in relation to the breach, and the directors provided additional financial support to boost working capital.
The directors had also planned to restructure BCQ’s CBILS loans under a new commercial mortgage, cut costs, and sell some assets.
But they also noted a material uncertainty about BCQ’s ability to continue as a going concern if the planned mitigating actions proved unsuccessful.
At the time of the latest accounts BCQ employed around 113 staff.
In the pre-pandemic trading period to 31 March 2020, sales were £12.2m, but the group still made an operating loss.
It runs a huge range of equipment spanning multi-colour A1 and B2 litho presses from RMGT and Heidelberg, along with colour and mono digital including devices from HP, Ricoh, Xerox and Océ. It also has a Scodix S75 digital embellishment line and a Motioncuttter.
BCQ’s large-format facilities includes EFI Vutek, HP, Mimaki and Agfa printers and a raft of associated cutting and finishing kit.
The business was originally formed in 1976 as local copyshop Busiprint. It expanded and became Buckingham Colour Group, and then merged with Colour Quest in 2007 to become BCQ.
The firm is owned by chairman Richard Knowles.
