According to CPPFS managing director John Sayer, a sale of the assets to his new company Steelmark, which was formed on 18 May, was finalised at a meeting of creditors on 5 June 2009.
Sayer and fellow CPPFS director Michael Hargreaves were appointed directors of Steelmark on 2 June 2009.
David Acland, of Begbies Traynor, was appointed liquidator of Lancashire-based CPPFS, which went down owing £418,000. Begbies has not responded to requests for comment, however a spokeswoman did confirm the meeting of liquidators was due to take place.
According to Sayer, "unprecedented economic circumstances" had led to the liquidation. However, he told PrintWeek that he did not foresee the company, which was first established in 1988, having to go down the same route again.
Sayer said that all of the company's 53 staff were subsequently employed by the new company.
He said: "We have seen significantly reduced volumes and faced increased losses in the last eight or nine months.
"As a business, we have been a print finisher for 19 years, successfully. We have felt the effects of the credit crunch but we are seeing signs of recovery.
"In essence, we wanted to ringfence and isolate these trading conditions. We have seen a bottoming out and are getting more work. Going forward we have more confidence."
Liquidated Clayton Park Print sold to directors' new company
Finishing company Clayton Park Print Finishing Services (CPPFS) has gone into liquidation with the company's assets being sold to a new company set up by the previous directors.
