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Corporate
Bankrupt firm bought from administrator
Cope Allman, the Portsmouth based manufacturer of Healthcare packaging, has completed the purchase of Jaycare Ltd. from the administrators, KPMG.Jaycare, based in Newcastle, went into administration in January, putting over 200 jobs at risk. The deal to rescue the business was signed on Friday 29 February 2008 and ends much speculation about the business’s future.
John Sidnell, the Managing Director of Cope Allman, said
“The two businesses are extremely complementary to each other and will have a strong market position in Healthcare Packaging. Although some rationalisation will be inevitable, I anticipate the majority of jobs will be secured”.
Both businesses produce rigid plastic packaging for Pharmaceutical, Medical and Personal Care markets. It is expected that manufacturing will continue in both Newcastle and Portsmouth.
The purchase of Jaycare was supported by ‘One Northeast’ who advised and supported Cope Allman’s management team throughout the process.
