Centre Web, based in Brackmills, has cited a difficult first quarter and cashflow problems as the reasons for its placement into administrative receivership with BDO Stoy Hayward.


A spokeswoman for BDO Stoy Hayward said it was looking to sell the business as a going concern and was in "serious talks with a number of parties".


The 40-employee firm, whose parent company is Whyte Holdings, recorded sales of 7.1m for the year ending 31 January 2000 but made a pre-tax loss of 39,000.


The firm has an approximate debt of 2m. Its buildings in Northamptonshire are leasehold, so cant really be regarded as assets.


As PrintWeek went to press Centre Web directors Andrew Williamson and Michael Anderson were unavailable for comment.


Last week technical director Craig Goddard told PrintWeek that the firm had been forced to adopt flexible working hours in July.


Story by John Davies