Metloc Printers, which was formed almost 50 years ago by Metcalfe’s mother, appointed insolvency practitioner ThorntonRones as liquidator on 4 November after a meeting of its creditors took place at ThorntonRones’ Loughton, Essex offices. Companies House lists Metloc's two directors at time of liquidation as Valerie Metcalfe and Sarah Kathleen Metcalfe.
The Romford-based outfit owes more than £80,000 in the form of various employee entitlements.
Stephen Metcalfe was creative director of Metloc in 2010 when elected as MP for South Basildon and East Thurrock, overturning a majority against the incumbent Labour MP Angela Smith and becoming one of the UK's first SME printers to be elected to Parliament.
Metcalfe said he was sad at the demise of the business and understood that "trading conditions have become increasingly difficult over the last few years".
When Metcalfe left Metloc, it was a 30-staff company turning over around £2m. He previously ran unsuccessfully as the Conservative candidate in the Ilford South constituency in 2005.
Speaking to PrintWeek in 2010, Metcalfe said: “Politics has always been in my blood, just as ink has.”
Metloc provided digital, litho, large-format and direct mail services, running a number of Heidelberg litho and Xerox digital presses. It had a second site in Loughton.
In its statement of affairs dated 4 November, the company, based at 37 Victoria Road, Romford, London, RM1 2LH, listed a surplus/deficit to preferential creditors of £129,552, with book debts of £21,060. It owes secured creditor NSS Trustees a floating charge of £140,000, of which £39,461 is deficit to the charge holder.
Its estimated deficiency as regards unsecured creditors is £144,573, with £81,436 being owed as employee entitlement in redundancy pay and payment in lieu of notice. The remainder is owed to trade and expense creditors (£21,662), HM Revenue & Customs (£2,014) and in deficit to NSS Trustees.
Of the 13 unsecured creditors, Fossdene Primary School (£6,560) and Cooper Paul Accountants (£6,175) are owed the most.
