Eighteen jobs have been lost after a Leeds printing company which ran up debts of more than £250,000 has ceased trading.
Wepos Limited, trading as Print On Solutions at Emmanuel Trading Estate, Springwell Road, Holbeck, had suffered cash flow problems and fell into arrears with HM Revenue and Customs, 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 stopped trading 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 Watford-based Ebury Limited to buy Print On’s customer database and stock.
Mr Wiseglass said: “Regrettably and despite several expressions of interest, the business could not be sold as a going concern.”
Wepos was incorporated in March last year. It ran up debts of more than £250,000 with HMRC before it closed, Inquesta revealed.