Joint administrators Alexander Kinninmonth and Matthew Haw of Baker Tilly were appointed to the £4.7m-turnover B2 litho and digital print business last Tuesday (16 December).

A statement from the joint administrators said that the company was closed on appointment and trading was ceased, resulting in the redundancy of 56 members of staff.

The administrators are currently in the process of seeking a buyer for the company’s assets.

LPC Printing's accounts for the year ended 31 January 2014 include a going concern note that states: "The directors have considered the company's cashflow requirements going forward. Banking facilities have recently been renewed and the company is able to access funds from a mixture of an overdraft facility and invoice financing facility, coupled with trade credit and other short-term funding.

"In the year under review, the company has invested in new plant to enable it to increase production capacity and the directors' best consideration is that the company will be able to improve its trading position going forward."

LPC's current appointment report lists Nicholas Lee, Martin Bosworth and Kathleen Harrison as directors.

According to LPC Printing's website, the company was equipped with two B2 Heidelberg presses, a five-colour SM 74 and 10-colour XL 75 perfector that was installed in February 2011, as well as a Xerox iGen3 110 digital colour press.

LPC Printing announced a merger with Midas Press in September 2010. However, following Midas Press's administration in October 2011, LPC managing director Nicholas Lee said his involvement with Midas had ended eight months prior.