Forty-six jobs go as plastics firm ceases trading

Some 46 people have lost their jobs at Hallam Plastics after administrators were called into the firm in September.

Established in 1972 in Langley Mill, Hallam Plastics called in Paul Appleton and Paul Cooper of David Rubin & Partners as joint administrators to the company on 11 September.

The company was sold to Venator Corporate Services last September for £1.25m. Sadly, the owner of Venator passed away in June of this year which led to uncertainty around the business.

Administrators summised that the company was insolvent because of debts around an unpaid loan, and although there were parties interested in buying the business, they were not willing to save the company through a share sale.

The company employed 46 people and owed £1.9m to creditors when it was placed into administration.

In the year ending 30 April 2018, the company made a loss of £65,900 on a turnover of £3.9m.