PDA Plastics Limited
Parker Andrews Limited are delighted to have advised on the successful restructuring of PDA Plastics Limited (“PDA”).
Background
PDA was incorporated in November 2013 and traded as a uPVC window and door recycling company based in Kent.
Situation
After several years of successful trade, PDA’s largest client approached the directors with a view of purchasing the business in mid-2022 for a significant sum. This sale however subsequently fell through which, compounded by a diminishing market for recycled plastics, resulted in a downturn in trade. Despite the directors’ best efforts, it became apparent the Company was insolvent and the directors subsequently sought advice from Parker Andrews Limited on the options available.
Solution
Given that it was considered that the business could still be viable, the decision was made to market the business with a view to completing a pre-packaged sale on the date of Administration. After a period of marketing and negotiations entered into with several interested parties, a sale of the business was completed to Winep 74 Limited. This sale also resulted in all 11 members of staff retaining their employment.
Parker Andrews Limited extends its best wishes to Winep 74 Limited and staff in its future ventures.
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