British Polythene Industries (BPI), which issued a profits warning earlier this year, has sold its flexibles business, comprising Britannia Packaging in Stoke-on-Trent and an undisclosed amount of shares in Normanton-based Parkside Flexible Packaging.
The 6.6m MBO by Inhoco 2107 was headed by former Parkside International managing director Geoffrey Stewart.
BPIs loss on the disposal was 2.4m, along with a 14m goodwill write-off.
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""longer run litho work had “now returned to the Far East”?
Is this happening a lot?"
"Thanks Jo, look forward to reading it in due course. Administrators generally argue that they need to act with lightning speed in order to protect the business/jobs, thereby overlooking the fact that..."
"Hello Keith,
The details will be in the administrators' report but that's not available yet. I will write a follow-up piece when that's filed.
Best regards,
Jo"
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