Plympack Limited (07525269): administration
- Status
- Administration ended
- Administration began
- 2020-03-05
- Administrators
- Rachel Hotham, Simon Ashley Rowe
- Administrators' firm
- The Logistics Partnership
- Formerly
- Brightborough Newco Limited
- Incorporated
- 2011-02-10
- Location
- Taunton
- Industry
- 77390 Renting and leasing of other machinery, equipment and tangible goods n.e.c.
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Property / lease costs
- Over-expansion / investment not recovered
From the administrators' statement
The Company was incorporated in 2011 and operated by the former directors for the benefit of the former shareholder until September 2018. At this time the Company appears to have been a shell entity with no assets or liabilities. Matters prior to September 2018 do not, therefore, appear to be relevant to the current circumstances.
In September 2018 the current Director took control of the Company and undertook significant investment to establish it as a UHT processing and packaging plant.
As part of the transfer of ownership to the Director, the Company entered into a lease with Brighborough Property Limited in September 2018 for the premises at Quadra House at a rent of £200,000 per annum. In addition to the rental cost itself, a rental bond of £240,000 was paid.
Administrators' statement of proposals (2020-04-29) · Companies House register