Map Marketing Limited – administration

Map Marketing Limited, a printing manufacturer and retailer of wall maps, jigsaws and puzzles in the UK market, entered administration in early November. Benjamin Wiles and Andrew Knowles of Kroll Advisory were appointed joint administrators. Despite an increase in jigsaw puzzle sales during the pandemic, by Spring 2022, a combination of disappointing sales, high loan and lease repayments, lower margins and higher running costs were putting extreme pressure on cashflow. The company was ultimately unable to keep up with payments to creditors and took the decision to appoint administrators. Immediately upon their appointment, the joint administrators secured a pre-pack sale of the company’s assets to All Jigsaw Puzzles Ltd, which was incorporated by the company’s shareholders (who were also its managing director and chief financial officer) as a vehicle for the acquisition. All 52 staff were retained. The company has one secured creditor, being Heritage Trustees Limited & Ronald William Butler as Trustees of the Animal Farm Pension, but no sums are reportedly due to the secured creditor.