Synseal Extrusions Limited (02668919): administration
- Status
- Administration ended
- Administration began
- 2019-03-05
- Administrators
- Christopher Robert Pole, Howard Smith
- Administrators' firm
- KPMG
- Formerly
- Barwill Limited
- Incorporated
- 1991-12-06
- Location
- Birmingham
- Industry
- 22290 Manufacture of other plastic products
Why it went into administration
- Sustained trading losses
- Rising costs / inflation
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Credit insurance / supplier credit withdrawn
- Competition / price pressure
From the administrators' statement
As outlined above, Synseal Extrusions Limited was incorporated in 1991, with the other group companies established in the years following.
Synseal reported turnover of £117 million in the year to March 2018 (excluding intercompany sales), employing 819 staff. Its key operating divisions included extrusion profile, glass, warmcore, conservatory roofs and fabricated niche products. Synseal was headquartered in Huthwaite with glass operations at separate sites in Huthwaite, Blackburn, Wigan and Essex.
Masterdor was acquired by the Group in November 2014 and reported sales of £19 million for the year to March 2018. Masterdor manufactured GRP composite and engineered timber doors. Masterdor employed 161 people and operated from a single site at Heage.
Administrators' statement of proposals (2019-04-08) · Companies House register