Pharmaceutical Packaging (Leeds) Ltd has ceased trading and been placed into administration, with Mark Hodgett and Phil Pierce of specialist business advisory firm FRP appointed as joint administrators.
Based in Holbeck, Leeds, the firm used cutting edge technology to create bespoke labels for a range of national and multi-national organisations.
Due to the impact of rising supply costs and supply chain inflation, the firm was no longer able to meet its financial obligations. The firm has now ceased trading and has been placed into administration, with 21 employees made redundant.
Five employees will stay on to help FRP carry out an orderly wind down of the business over the next few weeks.
Mark Hodgett, restructuring advisory partner at FRP and joint administrator of Pharmaceutical Packaging (Leeds) Ltd, said: “Pharmaceutical Packaging had operated in the local area since 1878 and unfortunately, mounting external pressures, most notably rising costs, made the business financially unviable.
“Regrettably, this meant 21 staff were made redundant on appointment. We’re now supporting the individuals affected and preparing for an asset sale.”
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