Sunday, April 14, 2024

Administrators hopeful of a sale of Surepak Limited after overwhelming interest received

Administrators from PKF Smith Cooper are hopeful that a sale of flexible packaging manufacturer, Surepak Limited, can be achieved, after receiving overwhelming interest in the business, which fell into administration last week.

Founded in 1991, the company has been trading for over 32 years, starting out as a distributor before moving into manufacturing in 1995.

Stuart Yorston, director of Surepak Limited, decided to file for administration on 9 February to safeguard the company’s business, assets, and employees from a creditor’s winding up petition.

Dean Nelson of PKF Smith Cooper was appointed, joint administrator on 12 February, and has subsequently received considerable interest in the business as a going concern, and a sale is expected to process quickly, with a deadline for receipt of offers set for 28 February.

Dean Nelson, joint administrator and head of Business Recovery and Insolvency at PKF Smith Cooper, said: “Since my appointment last week, we have had a great response from interested parties. Over the next few weeks, we will continue to work hard to assess this interest and I am very optimistic that we will secure a future for Surepak Limited and its employees.

“I am very grateful to the company’s loyal customers, suppliers and employees for their commitment at this difficult time, and expect the sales process to gather pace rapidly, so I actively encourage any potential buyers to come forward as soon as possible, to express their interest in the business and its assets.”

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