Crackdown on phoenix firms

The National Association of Paper Merchants (NAPM) is to get tough with phoenix print companies, with a register being compiled of directors of failed companies.

The NAPM has estimated that over the past five years around 100m has been lost by its members due to failed printing companies.

NAPM director Tim Bowdler said the association had registered with the Information Commissioner under The Data protection Act as part of its initiative.

Bowler said the register would be an aid to its merchant members for what was a highly complex issue.

A failed company in the eyes of the NAPM is one that has entered into administration, receivership or liquidation due to being insolvent, and where that fact is recorded as a matter of record within the public domain.