Administrators from Interpath Advisory were appointed at ten Arjowiggins Group UK subsidiary businesses four weeks ago, including its Stoneywood paper mill near Aberdeen and the Chartham mill in Kent.
The closing date for indicative offers in the sale of the businesses passed at the end of last week.
A spokesperson for joint administrators Blair Nimmo and Alistair McAlinden told Printweek: “The initial sale of business deadline passed without identifying any immediately deliverable transactions to secure the sale of either UK mill as an operational facility.”
While the joint administrators will continue to look for buyers, “this will now be alongside the site wind-down strategy and the sale of assets on a piecemeal basis”.
The spokesperson added: “If any party has a genuine interest in acquiring both or either mill as an operational facility, then they should contact the joint administrators immediately.”
Unite Scotland regional industrial officer Shauna Wright said she was saddened at the situation.
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| Arjowiggins swatches |
You can read the full article here: https://www.printweek.com/news/article/end-of-the-line-looms-for-arjowiggins-mills
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