Industrial Bulk Containers Limited (02588877): administration
- Status
- Administration ended
- Administration began
- 2020-06-22
- Administrators
- Christopher Ratten, Lindsey J Cooper
- Administrators' firm
- RSM
- Formerly
- Pointgrand Limited
- Incorporated
- 1991-03-06
- Location
- Manchester
- Industry
- 17211 Manufacture of corrugated paper and paperboard, sacks and bags
Why it went into administration
- COVID-19
- Brexit
- Competition / price pressure
From the administrators' statement
The Company was incorporated on6 March 1991 and has always traded from premises at Newton Business Park, Talbot Road, Hyde, Cheshire, SK14 4UQ. Instant Companies Limited acted: as formation agent and vacated office on 12 March 1991. On 15 July 1991, Kevin Price was appointed as a director, and whilst there have been other directors since incorporation, Kevin Price has been the sole director since 1994.
The Company's share capital consists of 100 ordinary shares of £1 each. There are three individuals who hold 19 shares and Kevin Price holds 81 shares and is the beneficial owner.
The Company operated as a manufacturer and distributor of bulk bags and packaging products. Historically, it had made steady profits at a time when a number of global manufacturers were based in the UK. Competition in the marketplace resulted in many of the UK manufacturers looking to import bags as opposed to manufacturing them in house for cost saving reasons. Whilst the Company eventually followed suit, this was at a much later stage when profits had already reduced. , :
Administrators' statement of proposals (2020-09-03) · Companies House register