The firm bought the Broadleys, Hannibal, Jowetts and Taylowe plants out of administration last September and subsequently sold Taylowe to CT Packaging.
Mark Scanlon, chief executive of TP8's parent, TP3, said it had been unable to secure adequate credit terms and had had to pay "pro forma for our most critical supplies". As such, TP3 was the firm's second largest creditor, he said.
TP8 to appoint administrator
TP8 to appoint administratorTP8, owner of the former Boxstar packaging businesses, was expected to appoint administrator UHY Hacker Young on 18 January.
