TGM Environmental Limited (05338296): administration
- Status
- Administration ended
- Administration began
- 2019-08-06
- Administrators
- Carl Stuart Jackson, David Rubin
- Administrators' firm
- Quantuma
- Formerly
- Salter Paper Limited; Shelfcorp 167 Limited
- Incorporated
- 2005-01-20
- Location
- London
- Industry
- 38320 Recovery of sorted materials
Why it went into administration
- Loss of a key customer, supplier or contract
- Competition / price pressure
- Sustained trading losses
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Bad debts / customer insolvency
- Property / lease costs
From the administrators' statement
The Company was incorporated on 20 January 2005 when it purchased the goodwill and assets of Salter Paper Group, a family wastepaper business in Charlton that had been trading since the 1950’s. The Company’s present managing director, Graeme Coombs (“GC”), was hired at the time of the acquisition.
The Company operated as a traditional waste paper merchant and collected wastepaper and cardboard from a wide range of clients, including printers, retailers, wholesalers, distribution companies, prisons and offices. The waste would come into the Company’s depots where it would be sorted, graded and sold on to paper mills that would then recycle it. Latterly, the Company traded from leasehold premises in Charlton, South East London and Normandy, Surrey.
Over the years, the Company expanded its operations through the acquisition of competitors. Notably, in 2007, the Company bought The Waste Paper Company — an established waste paper business based in Surrey, giving the Company a Surrey base from which it was able to grow its collection business further.
Administrators' statement of proposals (2019-10-02) · Companies House register