In the announcement it was confirmed that Chris Pole and Ryan Grant from Interpath Advisory had been named as joint administrators and were exploring a number of options to secure the firm’s future.
These include seeking a buyer, exploring interest in the company’s plant and machinery and realising the remaining assets.
Prior to appointment, Sirane employed 194 employees across the company’s three sites in Telford. The joint administrators have retained 22 employees to assist in the realisation of assets and the undertaking of their statutory duties, but the remaining 172 members of staff have been made redundant.
Sirane fell into financial difficulties due to the impact of rising raw material costs, energy prices and supply constraints, and initially engaged Interpath to review its strategic options.
However, Howa solvent solution could not be found and the director made the decision to place the company into administration.
‘Specialists in innovative packaging solutions’
Specialising in the design and manufacture of “innovative packaging solutions”, Sirane supplies customers in sectors including food and drink and horticulture. Products it has developed in the past include recyclable plastic-free flow-wrap films and stand-up pouches, paper-based recyclable absorbent pads and recyclable coated salmon and cake boards.
“Unfortunately, the significant financial difficulties faced by Sirane due to rising raw material costs, increasing energy prices, and supply chain constraints have left the company in an unsustainable position,” said Pole, managing director at Interpath.
"Our primary focus is to support those affected employees, providing them with the guidance and resources needed to file claims from the Redundancy Payments Service.”
Customers and suppliers will be contacted directly by the administration team to discuss the administration and next steps.
In other news, adolescents consume around two-thirds of their daily calories from ultra-processed foods, a new study from researchers at the University of Cambridge and University of Bristol have found.
