Ultrachem Limited (01588903): administration
- Status
- Administration ended
- Administration began
- 2018-04-19
- Administrators
- Kirstie Jane Provan, Mark Robert Fry
- Administrators' firm
- Begbies Traynor
- Incorporated
- 1981-10-02
- Location
- London
- Industry
- 20302 Manufacture of printing ink
Why it went into administration
- Cash flow / liquidity pressure
- Bad debts / customer insolvency
From the administrators' statement
The Company was incorporated in 1981 by the late father of the Directors, selling print consumables. The business was established in the City of London and has remained a family business with the Directors’ experience working for the Company totalling approximately 45 years. Over that time, they have created a network of over 1,200 UK and international customers.
Initially, the Company bought and repackaged print consumables before establishing a distribution arm that became the mainstay of the business. By the early 1990s, the Company had created its own formulations which were manufactured abroad before being brought into the UK for sale whilst at the same time the Company brought in and sold third party consumables such as inks, printing blankets and sundry products. The business continued to expand its chemical manufacturing with the purchase of Solvo, which manufactured solvent chemicals for areas of the printing industry that the Company did not cover. In the late 1990s, with the purchase of GB Graphic Supplies, the Company further expanded and also opened a waterbased chemicals plant in Leeds.
In 2005, the Company bought part of Bousefield, a manufacturing company in Bristol, which specialised in coatings and ink manufacturing specifically to expand the coatings side of the business and which, in tum, opened up an export market for coatings. The purchase from Bousefield also included the well-known inks and coatings brand, Goldeneye.
Administrators' statement of proposals (2018-06-27) · Companies House register