Tue, 10 Oct 2023 | ADMINISTRATION
The assets of Leeds-based pharmaceutical packaging firm Pharmaceutical Packaging (Leeds) Ltd have been put up for sale by administrators, following the company’s collapse earlier this year. The sale of the assets will be handled by asset advisory Walker Singleton via online auctions.
Mark Hodgett and Phil Pierce of FRP Advisory were appointed as the company’s joint administrators in July 2023, after it was hit by rising supply costs and supply chain inflation, leading to the business being unable to fulfil its financial obligations.
The joint administrators initially sought to sell the business, but these efforts proved unsuccessful, meaning its assets will now be brought to auction. The company’s premises total around 30,000 sq ft, with a manufacturing facility featuring machines from manufacturers including Webmaster, ABG, Edal and Arsoma.
The company’s processes utilised a full range of storage, handling and support equipment. Walker Singleton has invited interested parties to make bids on the firm’s operational equipment and stock.
Stephen Jones, director of Walker Singleton, commented: "While it is a loss to the printing industry and another casualty of the manufacturing sector, we are confident that the assets we are offering for sale by auction will allow other firms to benefit and invest in newer, larger capacity equipment.”
"Due to the finality of the operation, all assets will be offered for sale including the raw material and finished goods. The company have a stock holding of quality products supplied from European and UK manufacturers and we would recommend all interested parties to view the facility and see for themselves the standard and variety of items available."
In the firm’s accounts for the year to October 31 2021, its fixed assets were valued at £343,417 and current assets at slightly over £2.5 million. At the time, it owed around £2.5 million in total to creditors, with net assets amounting to £314,763.
Find out more about the headwinds impacting M&A in the manufacturing sector
Join our free UK deals and acquisitions newsletter
This is a unique opportunity to acquire a bespoke soft furnishings manufacturer with a strong reputation and established relationships with top interior designers, developers, and architects.
Opportunity to acquire a well-established bespoke kitchen manufacturer and retailer with over 30 years of experience in delivering high-quality custom kitchens.
Opportunity to acquire a company renowned for its bespoke wood machining, providing distinctive timber components for various industries including construction and furniture.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.