Flexothene Limited (07600131): administration
- Status
- Administration ended
- Administration began
- 2017-02-06
- Administrators' firm
- KRE Corporate Recovery
- Incorporated
- 2011-04-11
- Location
- Newcastle upon Tyne
- Industry
- 22220 Manufacture of plastic packing goods
Why it went into administration
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company began trading in 2011 from rented premises at Unit 15h, Hackworth Industrial Park, Shitdon as a supplier of packaging materia! to a variety.of customers. The packaging material was purchased in bulk and then split and sold on to customers. The Company entered into a factoring agreement with Factor 21 plc to factor the Company's book debts. Factor 21 pic also held security over the Company's assets by way of fixed and floating charges.
A summary of the Company's recent trading performance is shown below.
Statutory Accts 01 Statutory Accts 01 May 2015 to 30 May 2014 to 30
Administrators' statement of proposals (2017-04-19) · Companies House register