Fri, 10 Apr 2026 | ADMINISTRATION
Administrators are seeking to realise the remaining assets of a Derby-based manufacturer of polythene products after the company ceased trading. Reform Polythene Limited fell into administration last month and has subsequently ceased trading after it was decided the business was not viable as a going concern.
Reform Polythene had been a longstanding operator in the UK plastics manufacturing sector. The company specialised in flexible plastic packaging, including bags, sheeting and film, supplying commercial and industrial customers across a range of sectors.
However, administrators said that, for some time, the company had been operating with “limited financial headroom” and had been supported partly by a key customer relationship.
According to administrators, a change in circumstances led to this support being withdrawn and the company subsequently saw a “rapid decline” in its financial position.
Administrators were appointed to the company on March 27 2026 and traded the business for a short time in an effort to maximise realisations from its outstanding debtor balance. However, with the business not viable as a going concern, it formally ceased operations on March 31.
The joint administrators, who are now focused on realising value from Reform Polythene’s remaining assets for the benefit of creditors, said that the business was “an established manufacturer with a strong heritage in its sector” but that the loss of a key customer had put it in “an unsustainable position”.
In accounts for the year to December 31 2024, Reform Polythene Limited’s fixed assets were valued at approximately £387,000 and current assets at close to £3.6 million, with total equity amounting to £1.4 million.
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