Integrity FSP, the digital print firm set up to produce Home Information Packs (HIPs) for the property market, has closed.
The firm's 35 staff are understood to have been sent home last Friday afternoon (26 October). They have been told that wages will be paid until the end of the month, claimed insiders.
A statement on the company's website reads: "Regrettably, as of today, 26 October 2007, Integrity FSP Limited ceased trading. The directors have resolved to put the company into creditors' voluntary liquidation and have instructed Smith & Williamson to assist with the necessary requirements and convening of meetings of members and creditors.
"Creditors will shortly be receiving letters regarding a creditors' meeting to be held on 16 November 2007 at Smith & Williamson's offices Imperial House, 18-21 Kings Park Road, Southampton, Hampshire. SO15 2AT."
In its original guise, Fareham, Hampshire-based First Sellers Pack was set up by Jonathan Moore to service an anticipated rush of digital print requirements for the government's HIPs scheme.
The firm placed a record-breaking £3m order for 10 Kodak Nexpresses, although it is believed that by the time of last Friday's closure, eight of the machines had been taken back by Kodak.
However, the company foundered when introduction of the packs was delayed on several occasions and it eventually fell into administration on 1 August, ironically the day the scheme finally went live. Since that acquisition, Moore is understood to have had no further involvement with the business.
The company was bought out of administration in August by financial services firm Integrity, and renamed Integrity FSP. Despite the expected surge of work, however, insiders claim the firm never produced more than a few dozen packs per day.
For the full story, see this Thursday's PrintWeek magazine.
Source: printweek
The firm's 35 staff are understood to have been sent home last Friday afternoon (26 October). They have been told that wages will be paid until the end of the month, claimed insiders.
A statement on the company's website reads: "Regrettably, as of today, 26 October 2007, Integrity FSP Limited ceased trading. The directors have resolved to put the company into creditors' voluntary liquidation and have instructed Smith & Williamson to assist with the necessary requirements and convening of meetings of members and creditors.
"Creditors will shortly be receiving letters regarding a creditors' meeting to be held on 16 November 2007 at Smith & Williamson's offices Imperial House, 18-21 Kings Park Road, Southampton, Hampshire. SO15 2AT."
In its original guise, Fareham, Hampshire-based First Sellers Pack was set up by Jonathan Moore to service an anticipated rush of digital print requirements for the government's HIPs scheme.
The firm placed a record-breaking £3m order for 10 Kodak Nexpresses, although it is believed that by the time of last Friday's closure, eight of the machines had been taken back by Kodak.
However, the company foundered when introduction of the packs was delayed on several occasions and it eventually fell into administration on 1 August, ironically the day the scheme finally went live. Since that acquisition, Moore is understood to have had no further involvement with the business.
The company was bought out of administration in August by financial services firm Integrity, and renamed Integrity FSP. Despite the expected surge of work, however, insiders claim the firm never produced more than a few dozen packs per day.
For the full story, see this Thursday's PrintWeek magazine.
Source: printweek
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