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Nottinghamshire-based agency Surepak has entered administration after rising overheads. Directors from PKF Smith Cooper are hopeful {that a} sale of versatile packaging producer might be achieved, after receiving overwhelming curiosity within the enterprise.
Based in 1991, Surepak has been buying and selling for over 30 years, and counts main UK chains amongst its purchasers over time – together with M&S, Waitrose, Co-op, Tesco, Aldi and Lidl. Nevertheless, spiralling overheads – together with a 425% hike in its electrical energy invoice – reduce into its cashflow.
The rising prices coincided with a discount within the agency’s turnover by £1 million – after a change in packaging necessities and a relocation overseas. This led to Surepak being served a winding up petition by creditor Flint Ink on 3 January, with the collectors’ assembly as a consequence of be heard in mid-February.
Forward of that assembly, Surepak’s management determined to put the agency into administration. Dean Anthony Nelson and Nicholas Charles Osborn Lee of PKF Smith Cooper had been appointed directors to behave as brokers of the corporate and with out private legal responsibility.
Directors now search a purchaser “as a matter of urgency”. Nevertheless, they’ve good expectations of having the ability to ship such a deal, having subsequently acquired appreciable curiosity within the enterprise as a going concern, and a deadline for receipt of presents has been set for the top of February 2024.
Talking on Surepak’s outlook, Nelson – who’s head of enterprise restoration and insolvency at PKF Smith Cooper – commented, “Since my appointment final week, now we have had an excellent response from events. Over the following few weeks, we’ll proceed to work exhausting to evaluate this curiosity and I’m very optimistic that we are going to safe a future for Surepak Restricted and its workers. I’m very grateful to the corporate’s loyal clients, suppliers and workers for his or her dedication at this troublesome time.”
PKF Smith Cooper is the house of PKF within the UK’s Midlands area. PKF International is a world community of corporations. The community’s 224 impartial member corporations function beneath the PKF model in 150 international locations, and with 20,000 professionals. The community was listed in Consultancy.uk’s 2023 Top Consulting Firms rating – with platinum rankings in SME and household enterprise companies specifically.
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