Raglan Plastics Recycling Limited (07685492): administration
- Status
- Administration ended
- Administration began
- 2015-01-19
- Administrators
- Keith Robin Cottam, Gareth Self
- Administrators' firm
- Restart Business Turnaround and Insolvency
- Formerly
- Sevco 5062 Limited
- Incorporated
- 2011-06-28
- Location
- Matlock
- Industry
- 22290 Manufacture of other plastic products
Why it went into administration
- Creditor pressure / legal action
- Property / lease costs
- Sustained trading losses
From the administrators' statement
Raglan Plastics Recyciing Ltd was incorporated in 28 June 2011 and began trading on 15 September 2011 It operated from leasehold premises located at Barnfield Works, Raglan Street, Hyde SK14 2DX The Company dealt in the recycling of plastic products and the conversion of rigid PVC window bar length, window off cuts and PVC windows into regrind and pulver
The accounts for the period 28 June 2011 to 30 September 2012 show a loss of £58,872 for the financial year The Company’s financial position was eased by its then sole customer, Amco Plastics Limited (‘Amco”), who consistently over ordered materials from the Company in an effort to provide financial support to the Company In July 2013 Naylor Drainage Limited (“Naylor's”) acquired Amco and was far stricter with tts purchase regime which by nature of its previous relationship with Amco,
placed pressure on the Company's cash flow
Administrators' statement of proposals (2015-03-10) · Companies House register