Photo courtesy KMP
Established in 1939 as The Crusader Manufacturing Company it was taken over by KMP PrintTechnik AG in 1997 but closed their doors for the last time recently with debts of over £640K ($826K /€692K).
The creditor’s voluntary liquidation was approved by the board of directors in June and appointed Begbies Traynor (SY) LLP as liquidators. At the time the company was placed in liquidation, it owed KMP PrintTechnik AG and other KMP subsidiaries more than £389K ($500K/ €420K) and their bank, Unicredit, £205K ($265K/ €222K).
A Creditors’ voluntary liquidation is a formal process to close the business and is usually instigated by the directors of a company with the shareholder’s agreement. Once the shareholders pass the necessary ‘winding-up resolution’ an insolvency practitioner is appointed as the liquidator to take charge of liquidating the company.
The Crusader Manufacturing Company Limited was formed in London in July 1939 to manufacture carbon papers, inked ribbons (for typewriters and other machines), duplicator supplies, typewriter parts and accessories and manufacturing inks and grew rapidly over the next twenty years.
In the 1960’s the company relocated from London to new premises in Kings Lynn, Norfolk where it successfully traded for many years.
In 1997 the company was acquired by KMP PrintTechnik AG, one of Europe’s leading remanufacturers. Apart from the name change to KMP Crusader Manufacturing the new owners transitioned the business away from the declining ribbon market and focused on remanufacturing toner and inkjet cartridges to supply the UK market.
In July 2011, KMP PrintTechnik AG took over all sales activities of Greenock based Ink Wholesale Limited and strengthening the presence of the KMP group in the United Kingdom market.
In 2012 The company closed its King’s Lynn operation and moved their operation to new facilities in Greenock that emerged from the takeover of Ink Wholesale Limited. The KMP subsidiary continued trading until this summer under the name KMP Crusader Manufacturing Ltd.