Directors of London-based Laserbureau have passed a resolution to place the firm into voluntary liquidation with Menzies Corporate Restructuring.

A spokesman for Menzies said a creditors meeting had been called for 7 November, where the company would be placed into creditors voluntary liquidation.

He added that the bulk of the firms computer equipment was leased, but that its book debts would be recovered.

However, it is unknown how much of a shortfall unsecured creditors will be forced to absorb. Barclays Bank is known to be one of Laserbureaus major debenture holders.

As PrintWeek went to press, Laserbureau directors Joe Brim and Gary Duff-Godfrey were unavailable for comment, but a spokesman said the company had ceased to trade.

Last year, the pioneering printing company was among three European beta-testers of a print procurement e-commerce package from software developer ProImage.

One of Laserbureaus major clients was Marks & Spencer, but it is unknown if its demise is linked to the fortunes of the retailer.

The firms equipment includes a Kodak PhotoCD service unit with ProCD scanner along with a Hewlett-Packard DesignJet 750, Xerox DC40 with ZX colour server and a Heidelberg QM46-DI.

At Drupa, Brim was involved in talks about a joint venture with Kodak to set up an ambitious China-based "hub and spoke" operation with a centralised printing plant in Shanghai.

A source said: "Perhaps they took their eye off the ball regarding the rest of the business."

Story by John Davies