A spokeswoman for administrative receiver Harrisons said it was called in by the companys factoring agents, Cattles Invoice Financing, on 31 May. As PrintWeek went to press no one from Paper-Direct.com was available for comment.
The Surrey-based operation, which employs three staff, has been selling printing and laser paper for 20 years and is headed by managing director Peter Whapshott.
It established Paper-Direct.com as an online trading portal in 2000.
Paper-Direct.com suffered a double sting in Indonesia last year when letters of credit it sent to an agent called Mohammed Suhari of CV Paperindo were subsequently used to obtain over 41,500 in cash (PrintWeek, 24 August 2001).
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"It's wrong to assume the Chinese are behind the curve on automation - it used to be the case that manual processes were kept becuase it was cheaper to use them than buy the automated equipment,..."
"Incredible, what a business!"
"Sad news. Their prices were unsustainable - it was a race to the bottom."
