Walkers Instore has gone into voluntary liquidation after its owners could not restore its profitability despite attempts to restructure and reposition the retail POS specialist print operation as a finisher.
Manchester-based Walkers Instore was created following the administration of Walkers (MCR) in May 2009. Augustus Martin directors Lascelle Barrow and Barrie Dix bought the firm out of administration, then it began trading under the new name.
The intervening years saw “satisfactory” performance, according to Barrow, though the company felt the impact of losing some business that was not replaced. Barrow and Dix attempted to address the problem by restructuring and repositioning litho and digital printer Walkers as a print finishing outfit, but this was unsuccessful.
Walkers Instore – which Barrow said operated autonomously of his other company, Augustus Martin – was placed into liquidation on 26 February this year with Stewart Bennett of Essex-based insolvency firm ST Bennett & Co appointed as liquidator.
Barrow said: “We very much regret the need to close Walkers Instore.
“We provided considerable financial support for the business in recent years, but this could not continue indefinitely and the business had to close.”
At the time of liquidation, 22 members of staff worked at Walkers Instore. With Walkers fully shut down, all staff have been made redundant.
Barrow said that Augustus Martin had received applications for three advertised vacancies at Augustus Martin from former members of staff at Walkers.
Turning over £4m in the year to 30 September 2017, Walkers’ assets comprised “the usual large-format finishing kit”, according to Barrow, which will be disposed of by the liquidator.
S T Bennett & Co had not responded to a request for comment at the time of publication.