End of the line for White and Buzwell

The businesses of both White Productions and the Buzwell Group have been wound-up, after a refinancing package for parent Buzwell failed to materialise.

Some 30 jobs are believed to have been lost at White Productions as a result.

 

The two companies were wound-up by Begbies Traynor, administrator of the Perivan Group.

 

It is unclear as to whether White Offset, formerly Offset Colour Print is affected by the latest moves.

 

This latest move in the saga of both Buzwell and White Productions comes less than a year after White, then Perivan White Dove, was acquired from its administrators by the Buzwell Group, under the name of Skyrooks.

 

It also follows a staving off of a winding-up petition by Begbies Traynor against White Productions last week.

 

The winding-up petition was issued by Begbies to recover a significant amount still outstanding from the sale of the assets of Perivan.

 

Begbies Traynor partner Nick Hood said that despite promises of refinancing and payments of outstanding debts, this failed to materialise.

 

By the time all parties had reached the High Court on 22 September, Hood said Begbies had been joined in the petition by a number of employees from White Productions.

 

He said the Leigh-on-Sea premises of White Productions had also been closed by its landlords.

 

Hood said the businesses would now into the hands of the Official Receiver, who would decide who will be appointed as liquidator.

 

"What happens next is entirely up to the liquidator," said Hood.

 

In previous weeks both White Productions and the Buzwell Group had both been the subject of winding-up petitions.

 

It had also emerged that Buzwell Group chief executive Colin Parker was in an individual voluntary arrangement (IVA). An IVA is entered into when an individual is unable to meet debts, and where the debtor makes an offer to creditors that is accepted by 75%.

 

Despite calls to Buzwell no one was available for comment.