Printweek reported in January that that the Northampton-based business – whose registered company is Mainstream Direct Ltd – had stopped trading in late December, and a spokesperson for the company said at the time that it was seeking advice from FRP Advisory, which was expected to be appointed in short order to oversee insolvency proceedings.

But a statement sent to Printweek by FRP Advisory yesterday (3 July) confirmed that it wasn't until May that liquidators from the firm were appointed.

“Mainstream Direct Ltd ceased trading on 20 December 2023. The director of the company has been working with advisors from specialist business advisory firm FRP Advisory to facilitate an orderly wind down of the business.

“On 16 May 2024, Steven Ross and Allan Kelly of FRP Advisory were appointed as joint liquidators of Mainstream Direct Ltd.”

No information was shared on the reasons for the closure or what had happened to the company’s assets and, when called, Principal Mailing’s listed phone number now states that the number is incorrect.

Principal Mailing Solutions changed its trading name from Mainstream Direct over three years ago.

It offered a range of services spanning time sensitive, regulatory and business critical campaigns alongside direct mail and campaign management services, enclosing, and mailing.

It had its roots in trade printing but more recently primarily serviced direct clients and, as of summer 2022, it operated Xerox kit including a Baltoro inkjet press.

A first Gazette notice for compulsory strike-off was filed for Mainstream Direct Ltd on 23 January 2024 at Companies House, but the compulsory strike-off action was suspended the following day according to another notice.

“Dozens of ‘angry’ and ‘frustrated’ employees” who were left in limbo following the company’s closure were the subject of a story in The Northampton Chronicle & Echo in April.

The local newspaper reported that, at the time, staff were still waiting to be paid after being made redundant a week before Christmas. They had been unable to claim for money owed until an insolvency practitioner was in place.

According to Mainstream Direct Ltd’s notice of statement of affairs, filed at Companies House in May, the company’s estimated total deficiency as regards members was £2,005,219.

Among the unsecured creditors, “trade and expense creditors” were listed as being owed £654,505 while 37 employee claims totalled £293,685.