The longstanding family-owned printer ceased trading on 5 August and entered members voluntary liquidation on 8 August, with Andrew Kelsall and Lee Green from Larking Gowen appointed as joint liquidators.
The business, based in Leamington Spa, was established in 1946 and was owned by the Young family for 36 years. Brothers Paul and Alan Young took over the company after the death of their father John in late 2018.
In a statement at the time, the brothers told Printweek that the company, which was understood to have employed around 45 staff, had incurred “significant trading losses over recent years” and – unable to stem the losses – took the difficult decision to cease trading to avoid further losses.
The company’s assets were expected at the time to exceed its liabilities and costs. Its 1,420sqm freehold factory unit was up for sale via EHB Reeves Commercial for £1.75m while its plant and equipment was being sold by Eddisons.
Later in August, the company’s bosses said they were confident it would be able to pay off all its debts, providing it achieved the expected price tag for its factory.
But in an update provided to Printweek upon request this week, Kelsall confirmed that the factory “freehold property remains unsold and clearly that is critical to the return to creditors”.
He added: “Debtors are still being collected and we will shortly be considering legal action against those still finding reasons not to pay.
“As regards not paying creditors by the anniversary [the early August timeframe for completion, as set out in the Declaration of Solvency filed by the Young brothers last August] then if this arises we would need to contact creditors and advise that we would probably be required to place the company into a creditor voluntary liquidation and as set out in the legislation.
“The case is constantly under review and if matters change, we will contact creditors in the first instance.”
Warwick Printing Company printed magazines for independent publishers – according to its website more than 3,000 titles a year – and a range of general commercial print products. Clients included Warwickshire County Council, Warwickshire Police, the NHS, and landscaping association BALI.
