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.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.

Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.