UK Food Packers Limited (05729076): administration
- Status
- Administration ended
- Administration began
- 2019-06-06
- Administrators
- Lynn Marshall, Ian William Kings
- Administrators' firm
- Begbies Traynor
- Formerly
- The Sauce Sachet Company Limited
- Incorporated
- 2006-03-03
- Location
- Newcastle upon Tyne
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company was incorporated and commenced trading in 2006 under the name The Sauce Sachet Company Limited as a food packaging company. The Company traded profitably until recently when it won a large contract with a prestigious client. The contract required significant capital investment in bespoke machinery which was purchased on finance. In addition the Company purchased a substantial amount of materials to meet the proposed sales. The Company also planned a move to new premises, signing a lease and commencing alteration work on the factory. Unfortunately for a number of reasons the contract was terminated and this left the Company with premises, financed machinery and stock which was not needed. Mr Roberts managed to find someone to take over the property lease but the machinery could not be disposed of at a sensible price and the stock proved fo be worthless and had to be disposed of. Although other work has been sourced the Company found itself with cash-flow difficulties largely due to the large monthly loan and finance repayments required.
Administrators' statement of proposals (2019-06-27) · Companies House register