# Flexpac Limited (00190711)

> Why UK company 00190711 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/00190711

- **Status:** Administration ended
- **Administration began:** 2014-04-17
- **Formerly:** Flexspring Engineering Limited
- **Incorporated:** 1923-06-16
- **Location:** London
- **Industry:** 22290 Manufacture of other plastic products

## Why it went into administration

- Property / lease costs

## From the administrators' statement

The Company’s clients in the period prior to Administration included Brand Packaging, The King of Shaves, Starbucks and Proctor & Gamble Until late 2012, Proctor & Gamble (“P&G”) accounted for approximately 70% of the Company's business P&G had been a long established chent but, due to a change in tts policies, in December 2012 the business was placed elsewhere which resulted in a significant reduction tn the Company’s turnover

The Company reduced its permanent staff by 50% in an attempt to reduce overheads and ensure the survival of the Company The management endeavoured to obtain new, long term contracts and explored other avenues of potential revenue streams tn an attempt to keep the business going

The Company was also burdened by expensive leased premises which were too large for the business’s needs The rent was £195,000 per annum, and the Company was unable to meet its rent obligations going forward with a diminished order book In the circumstances, the Directors asked the landlord whether it would accept a voluntary surrender The landlord instructed a surveyor to assess the position, but gave no further indication of Its intentions as regards the lease

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/00190711/filing-history/MzEwMTg2NzkyNmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/00190711

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.