Press Release: Flexible packaging manufacturer Surepak Ltd for sale after Administrators appointed

14 February 2024

One of the UK’s leading flexible packaging manufacturers Surepak Limited is seeking a buyer after filing for Administration. Dean Nelson and Nick Lee, Business Recovery and Restructuring Partners at PKF Smith Cooper, were appointed on 12th February 2024.

Sole director Stuart Yorston made the decision to file for Administration to protect the company’s business and assets, goodwill and employees from a winding-up petition recently served by a creditor, which was due to be heard on 14th February. Surepak Limited will continue to trade in the short term whilst in Administration, as an accelerated merger and acquisition process begins with the aim of finding a purchaser in whole or part for the company.

Nottinghamshire-based Surepak Limited manufactures flexible packaging for businesses across a wide range of sectors in the UK. Incorporated in 1991, the company has been trading for over 32 years, starting out as a distributor before moving into manufacturing in 1995. In 2007, the company relocated its base to a 45,000 sq. ft., BRC ‘AA’ accredited facility in Nottingham to facilitate printing.

The company’s financial issues began during the global energy crisis when its electricity costs increased by more than 425%. This cost hike was followed by the loss of two major contracts, which reduced the company’s turnover by £1m due to customers’ packaging requirements and a relocation abroad.

Dean Nelson, Head of Business Recovery and Restructuring at PKF Smith Cooper, commented: “Our aim is to preserve the business and protect employees’ jobs, in addition to maximising returns for creditors. We will keep stakeholders and the press informed of any developments as matters progress. If you are interested in purchasing the company, please contact me as a matter of urgency.”

If you are interested in purchasing the company’s business and assets, please contact dean.nelson@pkfsmithcooper.com. If you have been affected by the Administration and have any queries, please contact creditor.correspondence@pkfsmithcooper.com.

Notes to Editors

An ambitious business and multi award-winning firm, we are the home of PKF in the Midlands. The region’s leading firm of trusted accountants and business advisors, we operate across key geographies in Derby, Nottingham, Birmingham, and Ashbourne.

Through our membership of PKF International, the large network of legally independent accounting firms and 11th largest network here in the UK, we are at the forefront of compliance regulations and specialise in providing high quality solutions.

Working in unison with PKF member firms across the world, we blend local expertise and extensive territorial knowledge to provide a full range of audit, accountancy, tax and advisory services in line with the expectations and needs of the market.

For press queries, get in touch with marketing@pkfsmithcooper.com.

Written by: Dean Nelson and Nick Lee