Manufacturer Surepak tasks PKF Smith Cooper with administration

12 June 2024 Consultancy.uk 2 min. read
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Nottingham-based flexible packaging manufacturer Surepak is ceasing to trade. Administrators from PKF Smith Cooper are still hopeful of a sale following interest from 96 parties.

Founded in 1991, Surepak has been trading for over 30 years, and counts major UK chains among its clients over the years – including M&S, Waitrose, Co-op, Tesco, Aldi and Lidl. However, spiralling overheads and a £1 million reduction in the firm’s turnover after a change in packaging requirements and a relocation abroad led to Surepak being served a winding up petition by creditor Flint Ink in early 2024.

Surepak’s leadership decided to place the firm into administration, with Dean Anthony Nelson and Nicholas Charles Osborn Lee of PKF Smith Cooper were appointed administrators to act as agents of the company and without personal liability. Seeking a buyer “as a matter of urgency”, the professionals initially said they had good expectations of being able to deliver a deal, having subsequently received considerable interest in the business as a going concern.

Manufacturer Surepak tasks PKF Smith Cooper with administration

With this context, Surepak has continued to trade for the short term as administrators pursued potential buyers, receiving substantial interest from 96 parties. However, the sale progression was subsequently been unsuccessful, resulting in Surepak ceasing to trade in mid-May 2024. 

According to a statement from the administrators, the team are “disappointed with the ultimate outcome in not securing a sale of the business and assets as a going concern”. They added they would like to “wholeheartedly thank the employees for their hard work and dedication, as well as customers for their continued support throughout this difficult process.”

Looking ahead, the company’s fixed assets, including plant and machinery, office equipment, and stock are available for sale.

PKF Smith Cooper is the home of PKF in the UK’s Midlands region. PKF International is a global network of firms. The network's 224 independent member firms operate under the PKF brand in 150 countries, and with 20,000 professionals. The network was listed in Consultancy.uk’s 2024 Top Consulting Firms ranking – with platinum ratings in SME and family business services in particular.