Pulse Flexible Packaging, a Bury-based packing producer, has, following an operational snag, entered into administration. KPMG has been called in as joint administrator, tasked with returning the company of around 350 people back to operation and identifying possible buyers.
Pulse Flexible Packaging is a Bury, Lancashire, based producer flexible packaging for the UK food and beverage industry. The company was formed in 2014, following a management buy-out of the UK operation of Printpack Enterprises from parent company, Printpack. The company itself however, traces its history back almost 90 years to the 1928 founded company, Transparent Paper. Today the company, aside from its head office, operates a production facility in Saffron Walden. The company has around 350 employees across its operation.
Pulse Flexible Packaging has, it was recently announced, found itself in financial strife. The company, following operational challenges, will require additional external funding to remain liquid, which haven’t materialised – resulting in the company entering into administration.
KPMG has been called as joint administrator for the company. Jonny Marston, a Partner at the firm, and Howard Smith, an Associate Partner, are tasked with assessing the current operation as well as seeking a buyer for the business. The majority of staff have been sent home, until it is clear if operations can continue. No redundancies have been made.
Marston comments on the appointment and the future of the company, “Pulse Flexible Packaging is a leading name within the packaging industry, with customers including well-known names from across the food and drink industry. However, the company has recently suffered operational challenges that have led to an additional funding requirement which has prompted it to enter into administration. We are currently assessing whether we can continue to trade the business while we seek a buyer, and would encourage any interested parties to contact the joint administrators as soon as possible.”