Wright Plastics sale saves 61 jobs, says KPMG

PLASTICS & RUBBER WEEKLY

Published: April 9, 2013 3:49 pm ET
Updated: April 9, 2013 3:52 pm ET

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Topics Mergers & Acquisitions, Injection Molding

LEICESTERSHIRE, ENGLAND– The future of injection molder Wright Plastics has been ensured after administrators at KPMG sold the business to Fenton Precision Engineering, saving 61 jobs.

According to Chris Pole and Richard Philpott from KPMG, Leicestershire-based Wright Plastics had been in financial trouble for some, a situation severely compounded by a bad debt in February. As a result the firm went into administration on 15 March this year.

Wellingborough-based Fenton Precision Engineering purchased the business and its assets for an undisclosed sum.

"By securing a sale for Wright Plastics we were able to ensure value for the business was not lost, that continuity of trading was achieved and importantly, that 61 jobs were saved," Pole explained.

Wright Plastics sale saves 61 jobs, says KPMG

LEICESTERSHIRE, ENGLAND– The future of injection molder Wright Plastics has been ensured after administrators at KPMG sold the business to Fenton Precision Engineering, saving 61 jobs.

According to Chris Pole and Richard Philpott from KPMG, Leicestershire-based Wright Plastics had been in financial trouble for some, a situation severely compounded by a bad debt in February. As a result the firm went into administration on 15 March this year.

Wellingborough-based Fenton Precision Engineering purchased the business and its assets for an undisclosed sum.

"By securing a sale for Wright Plastics we were able to ensure value for the business was not lost, that continuity of trading was achieved and importantly, that 61 jobs were saved," Pole explained.

Wright Plastics sale saves 61 jobs, says KPMG
LEICESTERSHIRE, ENGLAND– The future of injection molder Wright Plastics has been ensured after administrators at KPMG sold the business to Fenton Precision Engineering, saving 61 jobs.
According to Chris Pole and Richard Philpott from KPMG, Leicestershire-based Wright Plastics had been in financial trouble for some, a situation severely compounded by a bad debt in February. As a result the firm went into administration on 15 March this year.
Wellingborough-based Fenton Precision Engineering purchased the business and its assets for an undisclosed sum.
"By securing a sale for Wright Plastics we were able to ensure value for the business was not lost, that continuity of trading was achieved and importantly, that 61 jobs were saved," Pole explained.
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Wright Plastics sale saves 61 jobs, says KPMG

PLASTICS & RUBBER WEEKLY

Published: April 9, 2013 3:49 pm ET
Updated: April 9, 2013 3:52 pm ET

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