Printweek.com reported that nine out of 10 printing companies are in danger of collapse. According the company’s latest Corporate Financial Stability Index figures, which takes into consideration a business’s credit scores, County Court Judgments and net worth, 9,742 print companies face “probable collapse and potential winding-up petitions”.
The report also states that 5,991 print companies are in the amber category and are struggling because of “substantial financial difficulties”. Just 12% of companies in the sector are in Tenon’s green category, meaning just one company in 10 is considered financially stable by the insolvency specialist.
Print week also reported that the withdraw of credit options and insurance are key factors to related to the decline in demand for printing services. Nick Hood, executive chairman at Begbies Global Network, said he did not believe the sector is in such dire straits.
“Over the last few years, print has actually performed better than expected against other sectors as a whole.”
ColorFX is doing everything possible to help print companies make it through the struggling economy by not only offering excellent customer service, but by offering the perfect pricing for every project. ColorFX is the only print company offering custom size and quantity orders with no price penalties. They charge for what they give you. If you order less, you pay less. No penalties for choosing a non-standard quantity or size. Because ColorFX offers this unique pricing structure, print companies are thriving by being able to offer this to their clients. ColorFX is committed to being a cornerstone for print companies working hard to survive during the recession.