Vynova Runcorn Limited (09117971): administration
- Status
- In administration
- Administration began
- 2025-12-16
- Administrators
- Allister Manson, Gareth David Wilcox, Trevor John Binyon
- Administrators' firm
- Opus Restructuring
- Formerly
- Runcorn EDC Limited; Ineos EDC Limited
- Incorporated
- 2014-07-07
- Location
- Milton Keynes
- Industry
- 20140 Manufacture of other organic basic chemicals
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Parent or group failure
From the administrators' statement
On 29 July 2022, a Facilities Agreement was entered into between Bayerische Landesbank and ING Bank (“the Banks”) and Vynova Holding SA, the parent entity of the Company. Whilst Vynova Holdings SA was the original borrower and original guarantor, the Company, together with others in the Vynova Group, is also bound by the terms of that guarantee. The Joint Administrators have received notice of outstanding claims from the Banks amounting to €325,000,000, representing £284,420,500 utilising the Euro to Sterling conversion rate as at 16 December 2025, the date of Administration.
In or about November 2025, the Banks terminated the banking facilities of Vynova Holdings SA, following multiple events of default under the Facilities Agreement. Under the terms of this termination, the Lenders reserved their rights to invoke the guarantee granted by certain subsidiaries — including the Company — pursuant to the Facilities Agreement.
The withdrawal of banking facilities led to a domino effect across the Vynova Group in Europe and the UK. The Company had insufficient cash reserves and liquidity to meet its short-term obligations without the support of its parent, and the directors sought the advice of Penningtons Manches Cooper LLP (“Penningtons”). They were duly referred by Penningtons to Gareth Wilcox of Opus Restructuring LLP, a licensed Insolvency Practitioner.
Administrators' statement of proposals (2026-02-13) · Companies House register