Insolvency

The majority of Printweek readers are against the use of pre-pack arrangements as a way to save troubled businesses, according to a survey.

Folio Print Finishing, Gemini Print and Severn Print. Just three of a number of print firms that have regrettably failed for one reason or another.

Administrators at UK Printing Company (UKPC), which phoenixed in late March, have published details of the pre-pack sale of the business.

Nottinghamshire packaging firm Surepak has entered administration after growing overheads – including a 425% hike in its electricity bill – cut into its cashflow.

Print and direct mail specialist Principal Mailing Solutions ceased trading in December and business advisory firm FRP Advisory is expected to be appointed shortly to oversee insolvency proceedings.

The UK is on track this year to see the highest number of insolvencies since 2009, according to PwC.