Contract Paper Limited (00935398): administration
- Status
- Administration ended
- Administration began
- 2015-04-01
- Administrators' firm
- Deloitte
- Formerly
- Contract Papers Limited
- Incorporated
- 1968-07-15
- Location
- Birmingham
- Industry
- 46760 Wholesale of other intermediate products
Why it went into administration
- Cash flow / liquidity pressure
- Property / lease costs
- Sustained trading losses
- Credit insurance / supplier credit withdrawn
From the administrators' statement
The Companies have been expertencing declining market volumes for a number of years, which accelerated significantly in the last year due to certain suppliers beginning to sell direct to customers
The combination of this sates decline with low gross margins and a high fixed cost base resulted in increasingly high losses for a number of years, which accelerated in the current financial year
These trading losses, in combination with tightening supplier credit terms, and reduced invoice finance facility availability due to lower sales, resulted in considerable liquidity pressure across the Companies
Administrators' statement of proposals (2015-06-05) · Companies House register