Pulse Flexible Packaging Limited (08921682): administration
- Status
- Administration ended
- Administration began
- 2017-04-03
- Administrators
- Howard Smith, Christopher Robert Pole
- Administrators' firm
- KPMG
- Formerly
- Maple Newco Limited
- Incorporated
- 2014-03-04
- Location
- Leeds
- Industry
- 32990 Other manufacturing n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
- Credit insurance / supplier credit withdrawn
- Competition / price pressure
From the administrators' statement
Pulse Flexible Packaging Limited was incorporated on 4 March 2014 following a management buyout which completed on the same date.
The Company, which employed approximately 325 members of staff, manufactured printed film packaging from two sites in Bury, Lancashire and Saffron Walden, Essex and supplied a variety of large food and beverage manufacturers.
In 2014, the Company's previous parent entity, Printpack Holdings Inc. ("PHI"), exited its UK operations, and sold the business and assets of the Company to Pulse Flexible Packaging Pension Scheme Trustees Limited (“the Trustees”) and the Company’s management team. The business's defined benefit pension scheme, which had been closed to new entrants and was in a significant deficit position, was acquired by the Trustees as a condition of this transaction.
Administrators' statement of proposals (2017-06-07) · Companies House register