Sidcot Group Ltd (05366794): administration
- Status
- Administration ended
- Administration began
- 2019-09-19
- Administrators
- Andrew James Stone, Howard Smith
- Administrators' firm
- KPMG
- Formerly
- Sidcot Investments Limited
- Incorporated
- 2005-02-16
- Location
- Manchester
- Industry
- 70100 Activities of head offices
Why it went into administration
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Credit insurance / supplier credit withdrawn
- Energy costs
- Sustained trading losses
- Management failings / irregularities
- Loss of key people
- Competition / price pressure
From the administrators' statement
The Company was incorporated in February 2005 as a purchasing vehicle and provided the Group with its asset base, including freehold property and investment.
Chesterfield operated a paper mill, taking in recycled fibre to produce the base paper product and supplied the Group with parent reels for conversion or sale.
Matryx, based in Oldham, operated as the Group’s main converting business, taking parent teels produced in Chesterfield. Matryx converted tissue and paper products exclusively for distributors.
Administrators' statement of proposals (2019-10-11) · Companies House register