Another UK-based company has entered liquidation after two-and-a-half years of trading. The Packaging Factory Limited, based in Windover Road, Huntingdon, officially entered liquidation on June 3.
Grace Jones and David Perkins, both of Parker Andrews Limited, Norwich, have been appointed as joint liquidators of the company. The company specialised in the low-cost manufacture of printed postal packaging. In a post on its LinkedIn page earlier this year, the company said: “We have reached the end of the road as a company. We have had no choice but to close our doors for good.
“It has been an amazing journey, and we have laughed, cried and learned a lot. Thank you to our amazing suppliers and customers, but most of all thank you to the awesome team that made it a joy to come to work every day.”
The Packaging Factory was incorporated with Companies House on January 26, 2024.
Liquidation is the formal process of closing a business. It means converting the company’s assets into cash and using that money to pay off any outstanding debts and creditors. Once all of these obligations have been settled, the company is permanently dissolved and ceases to exist.
The Packaging Factory’s closure is one of many across the UK, spanning several industries. This is largely due to the pressure of rising operational costs and weakened consumer spending. Heavy debt burdens from the pandemic are also causing many businesses to stop trading and close their doors.