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Leonard Curtis appointed as administrators of T.W.Parker(Paper) Limited
Michael Dillon and Andrew Poxon of Leonard Curtis Business Rescue and Recovery were appointed as Joint Administrators of T.W.Parker(Paper) Limited on 26 April 2022.
T.W.Parker(Paper) Limited is a privately owned company operating as a premier supplier of labels, flexible heat sealed lids and label application onto plastic pots and bottles. The Company was established in 1951 and 23 employees were employed at the point of Administration.
Since the onset of the pandemic the Company has experienced difficulties with obtaining supplies and has also been impacted by increased supplier costs. The Companyes main supplier, based in Finland, has recently temporarily closed its operations whilst its workforce is on strike. The Company has been unable to source an alternative supplier due to the specialist nature of the goods and has resulted in further cashflow pressures on the Company.
Although the Company undertook an accelerated mergers and acquisitions process, unfortunately a sale of the business as a going concern was not possible. The Administrators are liaising with the Companyes customers in respect a short trading period to complete and dispatch current orders.
A total of 10 employees were made redundant shortly prior to and upon the appointment of the Administrators. The Administrators will continue to assess staffing requirements over the coming days.
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Reach Commercial Finance Limited. Registered in England no 09056450. Leonard Curtis is a trading style of Reach Commercial Finance Limited. Leonard Curtis is a broker not a lender and is independent with access to the whole of market. We may receive commissions that will vary depending on the lender, product or other permissible factors. The nature of any commission model will be confirmed to you before you proceed. Authorised and regulated by the Financial Conduct Authority FCA no. 753686. Registered with the Information Commissioner’s Office reference ZA069234
Leonard Curtis Legal Limited is a limited company, registered in England and Wales with registered number 09820186. Registered office: Riverside House, Irwell Street, Manchester M3 5EN. Leonard Curtis Legal Limited is registered with the Solicitors Regulation Authority with number 626004.