ML2024 Limited (formerly Milspeed Limited) - Administration

ML2024 Limited (formerly Milspeed Limited), a global leader in extrusion coating and converting for footwear, apparel and specialist film applications, entered administration on 11 January. Ross Connock and Edward Williams of PwC were appointed joint administrators. The company operated from two locations in Banbury, Oxfordshire and Bourton on the Water, Gloucestershire.

On their appointment, the joint administrators completed a pre-packaged sale of the business and assets of the site at Bourton on the Water and the company’s footwear assets to Tecnospeed Limited, saving 22 UK jobs as well as a number of overseas employees. The company’s operations at the Banbury site were not included in the sale, and administrators are continuing to explore options for this site.

Several HSBC Bank entities and Barclays Bank have registered charges against the company.