Ecoat Finish, the finisher formerly known as Best Cover UV, will not go into liquidation on 27 June as originally thought, after its lender appointed an administrator.
It emerged last week that the Leeds-based company had closed its doors, with a liquidator's meeting scheduled for 27 June.
However, Chris Brooksbank of O'Haras was appointed as administrator on 10 June.
Brooksbank told PrintWeek that director Darren Crake had instigated the meeting of creditors, but its asset-based lender had appointed him as administrator prior to that.
He said: "Obviously the lender was not happy and has exercised its right under the debenture to appoint me as administrator. They have moved to protect their position, it is almost a creditor's appointment in a way.
"The assets are minimal, it amounts to the outstanding book debt. My job now will be to investigate the company and try to ascertain why the company has ended up here. You could argue that it is more independent."
Brooksbank said that the company had still ceased to trade and ultimately "to the outside world" there was no change based on his appointment. | 
