Business and assets for sale as envelope maker enters administration
Mon, 31 Jul 2023 | ADMINISTRATION
A manufacturer of envelopes based in Yorkshire has ceased trading and appointed administrators following a period of challenging trading. FRP Advisory’s David Willis, Phil Pierce and Mark Hodgett were appointed as joint administrators to Regent Envelopes Ltd and Regent Envelopes (Sales) Ltd on July 26.
The business ceased trading prior to the appointment of the joint administrators, who, following their appointment, will actively market the businesses and their assets for sale. Approximately 60 employees were made redundant upon when the business entered administration, with a small number retained to assist in an orderly wind down.
Parties interested in acquiring the business have been advised to contact Mark Rowlands at Sanderson Weatherall.
In its accounts for the year ending December 31 2021, Regent Envelopes Ltd’s fixed assets were valued at £31,672 and current assets of £3.4 million and net assets of £1.3 million. Party Centric Ltd, meanwhile, which trades as Regent Envelopes (Sales) Ltd, reported fixed assets of £7,170 and current assets of £1.1 million and net assets of £119,818.
The business, which was based in Shipley, West Yorkshire, produced a wide range of coloured envelopes for greetings cards, gifting envelopes, stationary envelopes and envelopes for marketing and direct mail. It had more than 36 years’ experience in the envelope manufacturing industry.
In November 2022, Regent Envelopes acquires the business and assets of Yorkshire Envelopes, uniting two of the region’s most well-established specialist greeting card envelope manufacturers.
Distress is one of the major factors driving an increase in dealmaking in the UK's manufacturing industry.
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