Jobs lost as HMRC debt leads to printing firm’s demise

A printing company in Leeds which owed more than £250,000 to HMRC has ceased trading, leading to the loss of all 18 jobs.

Wepos, trading as Print On Solutions, suffered cash flow problems and fell into arrears with HMRC, which issued a winding-up petition in March.

Following this, the company’s bank account was frozen. It was unable to pay suppliers or staff and ceased to trade in April.

Steven Wiseglass, of Inquesta, and Gareth Lewis, of Lewis Business Recovery, were appointed joint administrators on April 28.

They subsequently agreed a deal with Ebury, trading as Peak Envelopes, of Watford, to buy Print On’s customer database and stock.

Wiseglass said: “Regrettably and despite several expressions of interest, the business could not be sold as a going concern.”

Print On, a specialist printer of bespoke designs and logos on to envelopes, was based on the Emmanuel Trading Estate in Holbeck.

Wepos was incorporated in March 2016 after it bought the assets of Print On in a pre-pack deal.