A Derbyshire business has called in the administrators – for the second time in two years.
Packaging firm, Charapak, on Salcombe Road, Meadow Lane Industrial Estate, in Alfreton, went into administration on Friday, January 28.
An official public notice was published in the London Gazette confirming Manchester-based Duff & Phelps Ltd as the administrators.
Charapak previously called in the administrators in March 2017.
According to Charapak’s website, the firm is an ‘independent, manufacturer and innovator of speciality corrugated packagaing’ and was established in 1980.
A statement from Duff & Phelps Ltd said that Sarah Bell and Steven Muncaster were appointed joint administrators of CP Realisations (2019) Limited, formerly Charapak Packaging Limited on January 28.
The company was incorporated in January 2017 and in February of that year it acquired the business and assets of Charapak Limited, which was subsequently dissolved in June 2018, while retaining the trading name.
Sarah Bell, joint administrator, said: “Following the incorporation of the company and subsequent acquisition in early 2017, the company traded well, but in 2018 it lost two major clients which had an immediate impact on cash flow.
“On appointment we took the decision not to trade the business given the lack of working capital, and the costs of trading would outweigh the benefits of doing so. As a result certain assets of the company were sold to CBS Packaging Limited on the appointment date including finished goods, work in progress and raw materials and intellectual property including the website, customer database and company name."
The administrators added that they sold encumbered and unencumbered plant, machinery and vehicles to Maltby Forman Limited on 4 February 2019.