Chris Pole and Mark Orton from KPMG have been appointed joint administrators to Gelpack Industrial Limited and Gelpack Excelsior Limited, leading manufacturers of plastic packaging for the industrial sector.
Headquartered in Hereford, with a separate production facility in the city, the companies employ approximately 200 staff. Following the appointment of the joint administrators, the majority of staff have been sent home, although the administrators have retained a skeleton staff to help fulfil outstanding orders. There have been no redundancies.
Mark Orton, partner at KPMG and joint administrator commented: “Gelpack is a leading name within the packaging industry, with customers including well-known names from across the food and drink, pharmaceutical and bedding sectors. However, both companies have recently suffered difficult trading conditions that have led to an additional funding requirement, which has prompted them to enter into administration.
“We are currently reviewing options for the companies, including the option to continue to trade in the short term, while we seek a buyer for the businesses and their assets. We would encourage anybody who may be interested to contact the joint administrators as soon as possible.”
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