Thu, 20 Mar 2025 | ADMINISTRATION
Leicester-based Ledwell Plastics, a plastic injection moulding firm, has gone into administration after more than 50 years in the industry.
The company, established in 1968, said, according to its website that it was the UK's leading specialist in product design, plastic injection moulding, mould toolmaking, vacuum forming, and plastic fabrication. It stated that it provided highly durable, technical mouldings, high-quality aesthetically pleasing mouldings, rapid prototyping, and sustainable plastic solutions. Their in-house toolroom also manufactured low-volume soft and high-volume hardened tooling "designed to suit the purpose intended".
It also made Reg the Sledge sledges for those fans of wintry days and hills and portable outdoor flooring product Jig Floor Rapid used in landscaping and motorsports.
Its clients include Royal Mail, Nescafe and Tropicana.
However, on March 17, Nathan Jones and John Lowe, partners at FRP Advisory, were appointed joint administrators.
According to its most recent financial results for the year ending August 31, 2023 the company had net assets of around £237,000. That was down from around £333,000 the previous year.
Creditor amounts falling due within one year came in at £778,000, down from around £784,000 the previous year.
The company has now closed its doors after struggling with escalating costs and cash flow issues. According to the administrators while 17 employees are being supported with redundancy payments, 14 staff members remain to assist with the winding-down process.
Despite those many decades of experience, Ledwell Plastics was unable to overcome mounting financial pressures. The administrators at FRP said: "The company couldn't overcome the financial pressures of a challenging operating environment. Despite having future work lined up, increasing costs and cash flow problems led to the company's insolvency. Unfortunately, Ledwell Plastics had no choice but to enter administration."
Administrators however said they are in talks with potential buyers interested in its assets.
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