Administration and Pre-Pack Sale of a Customised Printing Business

Moorfields were appointed as administrators over Inkling, a high-quality customised printing business supplying bespoke print solutions to a loyal customer base.

The company employed five staff and generated annual turnover of approximately £1 million. The funding structure included an invoice finance provider and hire purchase creditors, adding complexity to the administration.

Objectives

• Preserve the going concern value of the business
• Protect key customer relationships
• Manage secured funding arrangements and creditor interests
• Achieve a sale of the business as a going concern
• Safeguard employment where possible

Moorfields’ Actions

• Engaged early with the invoice finance and hire purchase creditors to manage exposures and facilitate continuity of trade
• Maintained short-term trading to protect customer contracts and order fulfilment
• Marketed the business to suitable purchasers, including strategic customers
• Completed an unconnected pre-pack sale of the business and workforce to a major customer
• Ensured a smooth transition of operations to the purchaser

Results

The administration resulted in a successful outcome, including:
• Completion of an unconnected pre-pack sale of the business
• Transfer of all employees to the new owner
• Continuation of the business under stable ownership
• An orderly administration process with stakeholder interests appropriately managed