Andrew Stoneman and Philip Duffy of turnaround specialist MCR have been appointed joint administrators of printing supply companies Litho Supplies plc, Litho Supplies (UK) Limited and Graphica Plus.
Litho Supplies (UK) Limited is a fully owned subsidiary of Litho Supplies plc, supplying and distributing printing consumables, equipment and services to the UK printing industry. It has an annual turnover of around £22m and employs about 120 staff.
Graphica Plus is a distributor of large format media and equipment.
Duffy said: 'The administration of the companies follows the continuing pressure on the printing sector, including the flexographic, digital printing and corporate print markets during the recession.'
He added: 'This has created an unfortunate situation for the companies and contributed to them entering into administration. The priority is now to identify a suitable purchaser. We will continue to trade all three businesses with a view to achieve a sale as a going concern.'
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