Jonny Marston and Howard Smith from KPMG have been appointed joint administrators to company, which manufactures flexible packaging for the consumer goods sector.
Staff at Pulse’s two sites, Bury and Saffron Walden, were sent home after the announcement. Production has also ceased although there have been no redundancies. The administrators are assessing whether trade can resume in the “immediate term”.
Marston said that Pulse went into administration due to “operational challenges that have led to an additional funding requirement which has prompted it to enter into administration”.
He added: “We are currently assessing whether we can continue to trade the business while we seek a buyer, and would encourage any interested parties to contact the joint administrators as soon as possible.”
The company was born out of a management buyout from US group Printpack Enterprises. The firm planned to boost turnover from £60m to £72m in 2018. It has a workforce 350.
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