TWP Packaging Solutions Ltd (07587490): administration
- Status
- Administration ended
- Administration began
- 2012-10-09
- Administrators
- John Malcolm Titley, S Williams
- Administrators' firm
- Leonard Curtis
- Formerly
- Watchteam Services Ltd
- Incorporated
- 2011-04-01
- Location
- Manchester
- Industry
- 32990 Other manufacturing n.e.c.
Why it went into administration
- Creditor pressure / legal action
- Cash flow / liquidity pressure
- Sustained trading losses
- Weak consumer demand
- HMRC / tax arrears
- Property / lease costs
From the administrators' statement
31 The Company was incorporated on 1 Apnl 2011 and commenced to trade on 27 July 2011, when the Company acquired its business and assets via a pre-packaged sale from the administrators of TWP Packing Limited
32 The Company traded from leased premises located in Bradford, West Yorkshire and its pnncipal trade was the provision of packing services and matenals to customers in a vanety of sectors
33 Since the commencement of trade, the Company was loss making and was immediately experiencing cash flow difficulties This was largely due to the business maintaining its staff levels following the acquisition from TWP Packing Limited despite a significant reduction in turnover having been suffered pre-acquisition
Administrators' statement of proposals (2012-11-30) · Companies House register