Marchant Manufacturing Co,Limited (00277794): administration
- Status
- Administration ended
- Administration began
- 2012-08-07
- Incorporated
- 1933-07-13
- Location
- Cambridge
- Industry
- 22290 Manufacture of other plastic products
Why it went into administration
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
From the administrators' statement
The company was incorporated in 1933 and its main trading activity in recent years was the manufacture of polythene & biopolymer refuse sacks, conversion of retail greaseproof paper and baking parchment rolls and the manufacture of specialist anti-rust films
In mid 2011 the company lost the business of tts largest customer, this work was replaced, although at a much smaller margin The performance of the business was also held back by Inefficient machinery, costly shift patterns and higher overheads These issues were tackled by installing more efficient machinery, changing shift patterns, reducing staffing levels and freezing wages, together with a number of other cost cutting measures Despite these efforts having a positive impact, the Company came under increasing creditor pressure A number of efforts were made by the directors in the lead up to Administration with a view to a sale of either the company or the business or a merger of the business, but these were without
Success
Administrators' statement of proposals (2012-10-01) · Companies House register