A WALTHAMSTOW advertising business says it is facing an uncertain future after losing £82,000 in unpaid bills following the collapse of an “irresponsible” national printing firm.

Management at Think Blink Ltd, based in Walthamstow, say they were due to be paid the money by DSR, a subsidiary of publishing business the Print Factory London group, but it went into administration before any cash changed hands, plunging their own company into difficulties.

They also claim other companies in Waltham Forest have been badly affected.

Managing director Simon Fensome, 41, said he has no hope of getting the money back without a lengthy and costly court case which the firm will not be able to afford.

In the meantime one member of staff has already been made redundant, and further cuts will have to be made.

He said: “I've been well and truly knocked. We did some work for French Connection UK, and DSR were supposed to pay us for it, but they never did and they went into administration before we could do anything.

“It has been hard. We've been trading for seven years and have a great relationship with our suppliers, but this puts us on difficult terms with our suppliers and means we have bad debt. I have never had that.

“I can understand a company going into liquidation. But the CEO has a responsibility. You don't get to £28million before you roll over in trouble. Where's the money gone?”

He added: “I had to let a project manager go and the office will have to downsize. I have also had to sell two classic cars. It wasn't about being flash, but I had worked hard to earn the money for them.”

According to a creditors report the Print Factory, along with its trading subsidiaries the DSR Group and Reelform Limited, owed a total of £28million to businesses across the country at the time of its collapse.

Has your company been affected by the collapse of the Print Factory London? Contact reporter Daniel Binns on 0779 547 6625 or via email at dbinns@london.newsquest.co.uk