Moorfields appointed Administrators over Kent based Printing Company
Simon Thomas and Arron Kendall of leading restructuring and insolvency firm, Moorfields Corporate Recovery Ltd, were appointed administrators over Millnet Document Solutions Limited (“MDSL”) on 14 November 2014.
The joint venture set up by printing entrepreneur Yolanda Noble and document management specialist MDSL was formed only 3 months ago when the pair purchased the mail business Print Logic out of administration. Unfortunately the business suffered trading and cashflow difficulties following the loss of a large client.
Arron Kendall, Joint Administrator “The printing industry continues to face pressures from online media and as a result has seen a decline in the demand for printed materials. It’s unfortunate with such a strong backing that MDSL has suffered but it does highlight how competitive the industry is.”
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