Trading in shares of Breaston-based Litho Supplies, who are perhaps best known to LFR readers as the owners of sign and display print systems and consumables supplier Andersons, remained suspended yesterday as the Breaston company sought to clarify its financial position.
The print and graphic design supplies company, which employs 120 people, called in administrators and is now up for sale as a going concern. It blamed a downturn in the printing industry.
In a statement, it said: "Major credit insurers have withdrawn cover from the sector and a number of our suppliers decided it was appropriate to reduce our credit terms, again affecting the cash flow of the business.
"The indications in quarter three of this year that some green shoots were starting to appear did not live up to expectations."
Sales in the half year to the end of June were £18.93m, down from £25.38m leading to a pre-tax loss of £1.31m after re-organisation costs against a pre tax profit of £340,000 in the first half of 2008.
