BusinessCompany NewsTL Visuals goes into administration

TL Visuals goes into administration

TL Visuals has gone into administration following the collapse of its proposed sale to Pepper Communications

Mazars has been called in as administrators of TL Visuals, which has ceased
trading following the collapse of a proposed sale to direct mail printer Pepper
Communications, and all 62 staff now faces redundancy.

TL Visuals was in the process of negotiating a sale to Pepper before going
into administration but the deal fell through because of debts during the due
diligence process which were incurred outside the company’s last full accounting
period, according to printweek.com.

Administrator Tim Ball said the current market conditions and the TL
Visuals’s severe financial difficulties meant the company had to cease trading
and make the 62 staff redundant.

‘It is very sad to see an independent company, with a very good reputation
for the quality of its work, fail in this way and it is very much hoped that a
buyer can be found for the benefit of its customer base, ex-employees and, of
course, its creditors,’ he said.

Further reading:

Read
the printweekcom story

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