The Leeds, UK office of Grant Thornton is seeking a buyer for Northumberland-based plastic packaging supplier to the confectionery, food, personal care and healthcare sectors Audus Noble, which went into administration on May 25.
Established over 40 years ago, the company operates from an 80,000 sq ft plant at Blyth, Northumberland where it produces a wide range of standard and bespoke plastic containers for customers throughout Europe. In March last year it acquired Basildon-based plastic packaging specialist Dines Plastics, whose workforce relocated to the north-east to join the Audus Noble team a few months later.
Grant Thornton administrator Keith Hinds attributes the company’s recent difficulties to a combination of the ensuing relocation costs, and “severe competitive pressures”, which have in turn adversely affected cashflow. He says: “Tough European competition in particular, and ensuing shrinking margins, have hit the business hard, although it is to the staff and management’s immense credit that the company has worked extremely hard to overcome these obstacles and continue trading.
“In late May I had to make 25 staff redundant, leaving a further 72 in place. We are working to fulfil all existing orders, but is important to find a buyer soon as, under an existing sales and leaseback arrangement, the owner of the Blyth site wishes to re-occupy it by late July and the business will therefore need a new location.”
Hinds says Audus Noble offers one of Europe’s largest range of wide mouth jars and is well known for its “innovative, entrepreneurial approach”. He is optimistic a buyer will be found for a business he says “has tremendous future potential”.
