Sidcot Group (Chesterfield Mill) Limited (10570932): administration
- Status
- Administration ended
- Administration began
- 2019-09-19
- Administrators
- Andrew James Stone, Howard Smith
- Administrators' firm
- KPMG
- Formerly
- Ensco 1216 Limited
- Incorporated
- 2017-01-18
- Location
- Manchester
- Industry
- 32990 Other manufacturing n.e.c.
Why it went into administration
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Credit insurance / supplier credit withdrawn
- Energy costs
- Sustained trading losses
- Management failings / irregularities
- Loss of key people
- Competition / price pressure
From the administrators' statement
The Company was incorporated in January 2017 and operated a paper mill, taking in recycled fibre to produce the base paper product and supplied the Group with parent reeis for onward conversion or sale.
Sidcot Group acted as a purchasing vehicle and provided the Group with its asset base, including freehold property and investment.
Matryx, based in Oldham, operated as the Group’s main converting business, taking parent reels produced in Chesterfield. Matryx converted tissue and paper products exclusively for distributors.
Administrators' statement of proposals (2019-10-11) · Companies House register