Unpaid Global EPP bill forced firm into administration.
BM Plastics Machinery in Worcester has been snapped up by a mystery buyer after it went into administration following the collapse of its major customer.
BM Plastics Machinery is a subsidiary of Boston Matthews Machinery, which hasn’t been affected and is still trading as usual.
The plastics processing machinery manufacturer got into difficulties after Global EPP went into administration (PRW 7 December 2007) owing it a six figure sum. Shipleys LLP, which has been handling BM Plastics Machinery’s administration, is still working to try and get the bill settled.
However, a buyer has been found for the firm that works within the same sector and business is continuing with the same staff on the existing premises.
Director of insolvency at Shipleys LLP, Conrad Beighton, said: “The main reason for the administration was an extremely large debt – a six figure sum so it had a massive effect on the business. It was their major customer.”
Beighton added that he couldn’t reveal the name of the buyer due to confidentiality.
Link to this article：Boston Matthews subsidiary bought by mystery buyer
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