In-a-Flap Envelope Company Ltd has been wound up at the High Court in London, owing creditors in excess of 1m.


The hearing had been adjourned from July 27 when joint interim managers had been appointed. This was after In-a-Flap Envelope Company Ltd had applied for an administration order.



The winding-up petition was served by DPS Envelopes, now known as Nova Envelopes, for an outstanding 37,000. Supporting creditor Alfred Ahlers of Germany is owed 575,000.



KPMG corporate recovery partner Richard Hassell, joint interim manager of In-a-Flap Envelope Company Ltd, will now become joint liquidator. He will investigate the business transfer (from In-a-Flap Envelope Company Ltd to In-a-Flap plc) and past company transactions.



In-a-Flap Envelope Company Ltds stock is now frozen and it is unable to sell to In-a-Flap plc, although In-a-Flap plc is still trading.



Nova Envelopes managing director Robert Green said: "When we first brought our petition, we couldnt believe just how many creditors there were. Now its well over 1m."



Robert Jenkin, managing director of both In-a-Flap companies, was unavailable for comment as PrintWeek went to press.



Print Origination Services of London, whose parent company is In-a-Flap plc, has had a winding-up petition served against it by Royal Bank Invoice Finance.


Story by John Davies.