An end to film making

Parkside Performance Films based at Darton, Yorkshire, has been placed into administration and its operations are now being managed by administrators Price Waterhouse Coopers.

Parkside International’s subsidiary Parkside Performance Films based at Darton, Yorkshire, has been placed into administration and its operations are now being managed by administrators Price Waterhouse Coopers.

‘Whilst I am disappointed by this decision, I am certain that it is in the best interests of the Group going forward,’ said Geoffrey Stewart, Chief Executive of Parkside International.

Parkside concentrated on seeking to turn-around the Performance Films business since its acquisition from BP in May 2002, but that this placed significant demands on resources, and was a distraction from the focus of the group.

Despite multi-million pound investment in equipment, the company claims that performance did not improve at the plant, in the face of a failure to agree the necessary changes to working practices, excessive site costs and escalating raw materials prices.

The 400 employees at the company’s other businesses – Parkside Flexibles, Normanton, and Parkside Flexibles, Zlotow, Poland – will not be affected by the move.