Statement on Petroplus Teesside Limited going into Administration

Following the announcement that Petroplus Teesside Limited has gone into administration, Stockton North MP Alex Cunningham, in whose constituency the storage business is based, said:

“It is a tremendous blow to a once thriving Teesside based business to find itself in administration and it is essential that everyone including the administrators PwC, the local authority and other organisations work together to find a buyer and secure the long term future of the business and its 60 employees.

“I await a call back from Mr Steve Pearson, one of the joint PwC administrators, but welcome his statement that his immediate priority is to ensure the business can continue to operate. I have also alerted Stockton Borough Council to the announcement and a team is already looking into the matter.”

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