Daniel Paper & Packaging Ltd (03469186): administration
- Status
- Administration ended
- Administration began
- 2022-03-31
- Administrators
- Colin David Wilson, Ian Mcculloch
- Administrators' firm
- Opus Restructuring
- Formerly
- Pads Direct Ltd
- Incorporated
- 1997-11-21
- Location
- Milton Keynes
- Industry
- 17290 Manufacture of other articles of paper and paperboard n.e.c.
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
Stephen Ramsbottom met with Paul Bird (‘PB’) of Emslie Accountants on 21 February 2022 to discuss the financial situation of the Company and the options available. The Joint Administrators had no prior involvement with the Company nor its director, other than to discuss the options available.
SAJR attended a second meeting with PB and Mark Saunders, the director of the Company, on 24 February 2022 where it was agreed that the Company was unlikely to be able to trade out of its difficulties and that a formal insolvency process may prevail as a result.
SAJR was subsequently approached by the Shareholder of the Company seeking a meeting in relation to the financial position of the Company. Accordingly, meeting with the Director and Shareholder took place on 7 March 2022. This resulted in a formal instruction from the director on 21 March 2022.
Administrators' statement of proposals (2022-04-09) · Companies House register