Constar International U.K. Limited (02407933): administration
- Status
- Administration ended
- Administration began
- 2014-02-14
- Administrators' firm
- Deloitte
- Formerly
- Wellstar U.K. Limited; Desmacon-Strongpac U.K.Limited; Aspinhurst Limited
- Incorporated
- 1989-07-25
- Location
- Birmingham
- Industry
- 22220 Manufacture of plastic packing goods
Why it went into administration
- Loss of a key customer, supplier or contract
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
Following the loss of a major customer during the fourth quarter of 2012 the Group was forced to consolidate tts operations by closing two plants in the US
Due to continued deterioration in its financial position during 2013, the Group engaged Lincoin to advise on seeking a solvent sale and / or refinancing for the Group (‘Group Sales Process”)
In late October 2013 it became clear that the parties expressing an interest in the Group did not intend to acquire the UK and Dutch businesses As a consequence of this, Lincoln initiated a separate European sale process (the “European Sale Process”) for the UK and Dutch businesses
Administrators' statement of proposals (2014-04-10) · Companies House register