The Hatfield-based supplier of equipment and software was served a petition to wind up its affairs on 7 June by one of the company’s creditors.

A subsequent winding-up order was issued on 1 August, and insolvency practitioner Moore Recovery is currently in talks to be engaged as liquidator, Printweek has been told.

Image 2 Output, which is no longer trading, was bought by entrepreneurs Mitesh Soma and Benjamin Percival in October 2021.

The pair own a number of other print-related businesses, including Imagery Direct, Oswin Frost & Co, D M Print, Hello Market and CZ Design and Print.

As of its December 2021 accounts, Image 2 Output had nine employees, with three management staff. 

That year, the firm had total assets less liabilities of £795,000, up from £400,000 the year before.

This increase was due to a leap in the amount falling due from debtors within the year, from £590,000 to £1.52m.

This increase is largely accounted for by a £1m loan made to other companies within the entrepreneurs’ group.

In return, it was owed £210,000 by companies within the group.

Trade creditors were owed £402,510 at the balance sheet date. 

Printweek has contacted Image 2 Output for comment.