Maidenhead-based print management firm La Fenice has said it will not take any more orders, although parts of the business will be transferred to internet security and print solutions company crossplatform.co.uk.


La Fenice managing director Andrew Palmer said that prints vicious circle of late payment and debt had ceased to make the 1m-turnover company viable.


He said: "Weve just decided to get away from that side of the business. It is a crazy situation selling print too cheaply and then being forced to wait 120 days for payment."


Palmer said that La Fenices creditors would be paid in full, despite the firm having been forced to absorb bad debt over recent months.


"We have over 23,000 bad debt from an internet firm, 8,000 from SMS in Slough and a likely 6,000 because of Garden Repros demise in March."