The company has 14 employees but it is understood that none of the jobs are at risk at this stage as a new owner is sought. At its height, annual turnover was reported at £4m but the company has experienced serious cashflow issues. As a result, Simon Plant and Daniel Plant of SFP have been named as joint administrators.

The print broker was set up in 2009 as a print management business, acting as a broker for printing services. In 2010, the business moved into premises that had previously been operated by printers and started to provide printing and direct mail services for customers including Aegas, the British Red Cross and the NSPCC.

Despite signs that the print industry was experiencing signs of recovery, this is the third printer administration the restructuring business has been appointed to handle in the last six months. ‘Print Logic experienced cashflow difficulties due to its liabilities and severe creditor pressure has led to the company being placed into administration,’ says Plant.

 ‘We are continuing to trade the company in the short term to maintain goodwill while looking to sell the business and assets as a going concern.’

The last set of company accounts was filed on 18 March 2014 for the year ending 31 July 2013. At the time, the reported capital was £75.