Saffron Walden packaging business goes into administration
A leading Saffron Walden packaging company went into administration last week and the majority of staff were sent home following the announcement.
Pulse Flexible Packaging Ltd, in Radwinter Road, which has its headquarters in Bury, Lancashire, has ceased all production.
It is believed around 350 jobs are at risk between the company’s two sites although, as yet, there have been no redundancies.
Jonny Marston and Howard Smith from KPMG have been appointed joint administrators to the company, which manufactures flexible packaging for the consumer goods sector.
The administrators say they are currently assessing whether trade can continue in the immediate term.
Jonny Marston, partner at KPMG, said: “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.”
Pulse Flexible Packaging have been contacted by the Reporter, but have yet to respond.