Chamberlain Plastics Limited (03068482): administration
- Status
- Administration ended
- Administration began
- 2012-07-12
- Administrators' firm
- KPMG
- Formerly
- Laporte Plastics Limited; Mobilemake Limited
- Incorporated
- 1995-06-15
- Location
- Nottingham
- Industry
- 32990 Other manufacturing n.e.c.
Why it went into administration
- Sustained trading losses
- Pension deficit
From the administrators' statement
The pnncipal activity of the Company was the manufacture and selling of laminated polyesters for use in the automotive trade and in furnishings. The Company was incorporated on 15 June 1995 and operated from leasehold premuses at Higham Ferrers in Northamptonshire
The Company had been loss making in the year to date and has a large histone final salary pension scheme liability estimated at £7m against turnover of £2m. As such, it was under significant pressure to fund the ongoing pension scheme lability and its deficit from trading activities ~
Following an initial introduction in June 2011 through the Company’s shareholder, KPMG were engaged to review the Company’s position, provide advice in respect of the Scheme deficit and consider the restructunng options available to the Company A further review of the Company’s financial position followed in April 2012, when it became clear that the business was reaching a point whereby it could no longer sustain the pension contributions needed to fund the Scheme deficit
Administrators' statement of proposals (2012-09-11) · Companies House register