Assets from failed cosmetics plant put up for sale

By Guy Montague-Jones

- Last updated on GMT

Related tags: Economics

The assets from the failed contract manufacturer Budelpack Cosi have been put up for sale in an online auction.

Budelpack Cosi, which recorded turnover of €105m in 2006, closed its doors in Maesteg, South Wales, in December with the loss of 263 jobs after experiencing a slump in sales.

Joint administrators, Alistair Wardell and Nigel Morrison of Grant Thornton, have now placed the factory assets up for auction with GoIndustry DoveBid.

Range of factory equipment up for sale

Lots from the cosmetics factory include labelers, printers, conveyors, storage tanks, laboratory equipment and even office furniture.

The assets were put on GoIndustry DoveBid in four distinct sales on 6 and 10 February.

Depending on the start date, bidding will close on 19 and 24 February with viewing taking place next week on Monday and Tuesday by appointment only.

Interest has been “quite reasonable”

Kevin Sutch from GoIndustry DoveBid told CosmeticsDesign.com that interest has so far been “quite reasonable” given the economic environment.

It was the difficult economic conditions that sealed the fate of Budelpack Cosi. Netherlands-based owners Budelpack blamed a 25 per cent drop in sales for the closure, stating that the business was no longer viable and that the resulting job losses were unavoidable.

Budelpack had acquired a 70 per cent share in the contract manufacturer back in November 2007.

Related topics: Business & Financial

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