# Wright Plastics Limited (01095422)

> Why UK company 01095422 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/01095422

- **Status:** Administration ended
- **Administration began:** 2013-03-15
- **Administrators' firm:** KPMG
- **Incorporated:** 1973-02-09
- **Location:** Leicester
- **Industry:** 22290 Manufacture of other plastic products

## Why it went into administration

- HMRC / tax arrears
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Cash flow / liquidity pressure
- Bad debts / customer insolvency
- Competition / price pressure

## From the administrators' statement

Wnight Plastics Limited 1s a plastic injection moulding business, operating from leasehold premises in Market Harborough, Leicestershire

RBS Invoice Finance Limited (“RBSIF”) provided an invoice discounting facility to the Company, and was owed £504,380 40 upon our appointment National Westminster Bank Pic (“NatWest”) provided a current account and was owed approximately £71,000 (excluding interest) against two Enterprise Fmance Guarantee (“EFG”) Scheme loans Simon Walsh (“the Director”) has provided a personal guarantee against the EFG loans to a maximum amount of approximately £38,000

In 2009/10 the Company suffered a loss of approximately £500,000 on a customer contract The Company was able to temporarily alleviate the resulting cash pressure, in part, through additional RBSIF support, a refinance of plant and machinery and a time to pay (“TTP”) arrangement with HM Revenue & Customs (“HMRC”)

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/01095422/filing-history/MzA3ODEyMTY2N2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/01095422

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