ML2024 Limited (formerly Milspeed Limited) - in administration

On 11 January 2024 Ross Connock and Edward Williams were appointed as Joint Administrators (“Administrators”) of ML2024 Limited formerly Milspeed Limited (“the Company”).

The Company operated from two locations in the UK, one in Banbury, Oxfordshire and the other in Bourton on the Water in Gloucestershire. The Company has historically worked with customers to develop innovative, high-performing and sustainable coated film based solutions, being a global leader in extrusion coating and converting for footwear, apparel, specialist film applications and in reprocessing plastic waste into pellets and products.

On appointment the Administrators completed a pre-packaged sale of part of the Company’s business and assets, comprising the business and assets of the site at Bourton on the Water and the Company’s footwear assets, to Tecnospeed Limited as a going concern. This transaction represented the best outcome for the creditors and resulted in 22 UK employees transferring to the purchaser as well as a number of overseas employees.

The Company’s operations at the site at Banbury were not included in the sale. A short period of reduced scale trading at the Banbury site is expected to continue to fulfill existing customer orders. During this time the Administrators’ will continue to explore options for the sale of the assets at the Banbury site.

For all creditor, employee, supplier, potential ROT and general enquiries please email uk_ml2024enquiries@pwc.com

Ross Connock and Edward Williams have been appointed as Joint Administrators of ML2024 Limited to manage its affairs, business and property as its agents and without personal liability.  The Joint Administrators are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales.  

The Joint Administrators are bound by the Insolvency Code of Ethics which can be found at:
https://www.gov.uk/government/publications/insolvency-practitioner-code-of-ethics

The Joint Administrators may act as controllers of personal data as defined by UK data protection law depending upon the specific processing activities undertaken. PricewaterhouseCoopers LLP may act as a processor on the instructions of the Joint Administrators. Personal data will be kept secure and processed only for matters relating to the Joint Administrators’ appointment. Further details are available in the privacy statement on the PwC.co.uk website or by contacting the Joint Administrators.