Celloglas sheds eight sites in deal with administrator

The company, which employed 300 staff across its network of sites, went into administration on Monday with the London office MCR Corporate Restructuring.

It confirmed today that five of its factories, employing around 140 staff, have been bought by a new company, which has not been named.

The five sites – Seacroft in Leeds, Hunslet in Leeds, Leicester, Mirri in Reading and Foilworks in Birmingham – will continue to trade and produce Celloglas’s key brands Cellogreen, Cellcover, CelloMed and Mirri.

Richard Gillgrass, who was managing director of Celloglas and retains the position in the new company, said: “It is with regret that there have been job losses, the majority of which are in the factories which have not been acquired by the new company, but the administrators are actively seeking buyers for the remaining operations and their assets.”

The exact number of redundancies has not yet been confirmed.

The company did not confirm the role of NewCelloCo, a company incorporated on 29 December whose listed directors are Peter Clayton, that finance director of Celloglas, and Eric Hanson, a managing director at Celloglas’s private equity owner Berggruen Holdings.

MCR was not available for comment this morning.

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