iTEC Packaging (Mansfield) Limited and iTEC Packaging (Chester-Le-Street) Limited - administration

iTEC Packaging (Mansfield) Limited and iTEC Packaging (Chester-Le-Street) Limited, designers and manufacturers of plastic packaging, entered administration on 5 April. The companies cited various factors, including the impact of the Covid-19 pandemic, higher material and labour costs, lower turnover and final costs from closing the company’s Stanley and Livingston sites, as the reasons for its losses. Upon the appointment of Martyn Rickels, Simon Farr and Allan Kelly of FRP Advisory as Joint Administrators, 44 roles were made redundant, with the remainder of iTEC’s 247 staff retained to assist in the administration process. A number of parties, including Asheton Capital Limited and Secure Trust Bank PLC, have registered charges against the companies.