SNU Statement re Psychic Press (1995) Ltd

This was dated 23/8/2010:

Spiritualists' National UnionSNU Home
SNU News page.

Psychic Press (1995) Ltd.

It is the Union's sad duty to report that Psychic Press (1995) Ltd has ceased to trade and instructions have been given today, 23rd August, to the liquidator to take the necessary steps to put the company into liquidation.

The date of 15th September next has been fixed for the meeting of the shareholders and the creditors and the liquidation will take effect from this date. Creditors will receive notice of the latter meeting from the liquidator, who is Mark West of Berley, Chartered Accountants, 76 New Cavendish Street, London W1G 9TB, tel. 020 7636 9094.

The Board of Psychic Press and the National Executive Committee are extremely saddened and disappointed that in spite of all the efforts made it did not prove possible in the end to save the company. On behalf of the Board and the Union's directors we would like to thank all the readers of, contributors to and advertisers in, Psychic News for their loyalty and support to the paper over so many years. We also wish to thank the staff of Psychic Press for their years of dedicated service to the company: their hard work and efforts over their time with us are very much appreciated and did such a great deal to help sustain the viability of Psychic Press in earlier years.


- The National Executive Committee of the Spiritualists' National Union. 23rd August 2010

There is coverage on today's statement at http://paranormalreview.com/

The reality is they should have ceased trading or appointed an Administrator way back, as I have suggested maybe as far back as April.

The burning question is when did they realise that the company would be handed into the Liquidator in an insolvent condition. The fact it was handed over in that state means that they should have acted immediately after the May 22nd resolution.

To say

"their hard work and efforts over their time with us are very much appreciated and did such a great deal to help sustain the viability of Psychic Press in earlier years."

is also an insult to employees who were never alerted to financial problems at a time when they may have been able to mount a public appeal to help...disgraceful once again SNU.