Just to pick up on one point in the comments on this article - here at Copeland Borough Council our printing is either undertaken in house or via our print contractors who are based in Keswick and have offices in Whitehaven.

When do you stop lending J Rochester? The most likely answer to that is when you have no chance of getting it back.

@Tony...for a person that tells us that we either don't know the facts or shouldn't assume, you seem to do quite a lot of judging based on both ('a failed business','If the business was generally bouyant, banking would not be an issue', 'The bank didn't need vision, it needed a clear opportunity to prevent further losses').

it's telling that you were once a creditor as that might explain your generally unsympathetic attitude towards this company/debtor.

however, there is one subtle difference between you as a creditor and many high street banks - you probably weren't bailed out to the tune of billions of pounds, on very good terms, to keep your failing company afloat, by the very taxpayers who you then refused to lend to!

I'm not saying this company is a potential gold mine, but to defend the banks' ethos, after they have virtually crippled the country, is confusing, at best.

Cold and strident? Possibly, as one who has lost thousands as the creditor of an apparently bouyant local business, I understand the upset that small businesses unable to pay their way can cause. The fact is, nobody on here knows the depth of financial mire this business was in at the time of collapse. A feasible scenario would be that as they had just had "the most profitable month in 27 years" that mire was already very deep. However as I refuse to assume anything when not presented with the full facts I will reserve the right to defer judgement until presented with more information.

I used Print express for the creation of stationary for my business. They were a pleasure to work with. Great design team, very efficient service. Absolute tragedy to see them go under. Our taxes should not have been used to prop the banks up without total nationalisation and control. They will not lend money at the moment to any small business. The uk banking sector is a national disgrace.

You've gotta love the banks at the moment;

- Plunge the world's economy into the worst recession since 1929.

- get bailed out to the tune of hundreds of billions of pounds, by the taxpayer.

- refuse to be lenient / lend to taxpayer when taxpayer needs (no doubt) fairly small sums to stop their business from collapsing.

Tony - you seem to be fairly cold and strident when it comes to letting this small company go under, and the bank being perfectly in the right for not extending futher finance to it.

Going by the same logic, should we, as taxpayers, have withdrawn the multi-billion pound finance facility given to banks to prop up their failed system, whilst plunging ourselves into massive debt and economic catastrophe?!

Apologies for the typo's in my post. Inexcusable!

We are so lucky to have so many business experts commenting here, hopefully they all have booming businesses and are available to pass onto others their wealth of experience.

John Kae. Short term ism?? The company had been running 27 years, how longs it been in trouble? The bank didn't need vision, it needed a clear opportunity to prevent further losses. The money they invest has ultimately been invested by those who use the bank. Are you suggesting they should waste further capitol supporting a failed business?
Robert, there is nothing to imply that the company was struggling with a short term overdraft issue, funding would not be an issue if that was the case. I, unlike you can read the story without filling in blanks with theory or assumptions. If the business was generally bouyant, banking would not be an issue. If the pot was already dry and money was needed to sustain an already failing business then the bank was perfectly correct in their course of action. You use the verb seem(s) twice in your response, unfortunately that implies assumption on your behalf. You shouldn't assume anything, rely on gacts instead you will go much further in life. Facility in financial terms relates to all of a banks services not just an overdraft.

How can a business be having its best ever year then need to go straight to the bank? Too many UK businesses rely on bank funding instead of other forms of raising money...look at successful US and German firms who are far less reliant on the good old overdraft. Surely the better you are doing the less money you should be borrowing....