Techcel Limited (07232572): administration
- Status
- Administration ended
- Administration began
- 2019-09-19
- Administrators
- Andrew James Stone, Howard Smith
- Administrators' firm
- KPMG
- Formerly
- Hallco 1755 Limited
- Incorporated
- 2010-04-22
- Location
- Manchester
- Industry
- 17120 Manufacture of paper and paperboard
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- Funding withdrawn / unable to refinance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- Credit insurance / supplier credit withdrawn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 April 2010 and was the Group’s second converting facility designed specifically to manufacture branded product.
Sidcot Group acted 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.
Administrators' statement of proposals (2019-10-11) · Companies House register