Flexible packaging manufacturer ceases trading after sale unsuccessful

Nottinghamshire-based Surepak Limited is ceasing to trade despite appointed administrators at PKF Smith Cooper being hopeful of a sale following the interest of 96 parties.

Surepak Limited’s financial concerns became apparent during the global energy crisis when its electricity costs increased by more than 425%. This increase, coupled with the loss of two significant contracts, decreased the company’s turnover by c.£1m, due to customers’ packaging requirements changing and the relocation of a customer abroad.

The Nottinghamshire-based organisation sought a buyer after sole director Stuart Yorston filed for administration on 9th February 2024. This was to safeguard the company’s business, assets, and employees from a winding-up petition served by a creditor, which was due to be heard on 14th February.
more at: https://www.eastmidlandsbusinesslink.co.uk/mag/featured/flexible-packaging-manufacturer-ceases-trading-after-sale-unsuccessful/

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