Fine paper business enters administration

Thu, 17 Jan 2019 | ADMINISTRATION



Arjowiggins UK, which operates a number of trading companies including Arjowiggins Fine Papers, Arjowiggins Chartham, Performance, Arjobex and the Wiggins Teape Group, have fallen into administration.

Established in 1770, and with a turnover of £120 million, Arjowiggins Fine Papers operates a distribution depot in Basingstoke and the Stoneywood Mill in Aberdeenshire but faced a series of financial difficulties in the lead-up to the administration.

Professional restructuring business FRP Advisory have been called in to handle the administration process, with partners Iain Fraser, Tom MacLennan and Geoff Rowley appointed as joint administrators for Arjowiggins Fine Papers.

Similarly, for Arjowiggins Chartham, Rowley and MacLennan have been assigned alongside Phil Reynolds for the Kent-based mill.

The British companies are a subsidiary of Sequana’s Creative Papers division, which is a listed French company that manufactures, distributes, and packages and prints high-quality paper and offers printing solutions.

Commenting on the administration, Rowley said: “Rising pulp prices and energy costs have made trading conditions extremely difficult in this market and the insolvency proceedings begun in France left the directors no option but to place the UK businesses of Arjowiggins into administration.

“We will continue to trade the businesses whilst seeking buyers and would urge interested parties to make contact as soon as possible.”

Roughly 600 members of staff are a part of the Union Unite, whose national officer Louisa Bull believes the insolvency process was triggered by Sequana’s legal dispute with British American Tobacco (BAT).

Bull said: “Arjowiggins is a vibrant and innovative creative paper company, and we can see a bright future as it is an attractive proposition for a potential buyer.”

For more news stories about administrations click here. For all our administrations listings, click here.


Share this article



Latest Businesses for Sale

Pottery Items & Ceramic Decals Manuacturer
Midlands, UK Wide

Offers a range of kitchen, dining and gift pottery items, including fine bone china, fabrics and melamine products, for a mixture of commercial and private clients. Also facilitates the creation and supply of ceramic decals, including tableware, glas...

Asking Price: Offers Invited
Turnover: £2,900,000

FREEHOLD


Heating & Ventilation Equipment Manufacturer
North of England, UK Wide

Manufactures bespoke heating and ventilation equipment, serving clients throughout England and internationally. Products have been installed in a wide range of environments, including hospitals, schools and universities, petrochemical plants and leis...

Asking Price: Offers Invited
Turnover: £1,900,000

FREEHOLD


Electronic Solutions in Automatic Smoke Ventilation Systems Manufacture & Supply
UK Wide

Holds a number of patents for its unique product range, which has been specifically developed to comply with UK building regulations. Operates nationally, primarily working with electrical wholesalers, distributors and installers, as well as building...

Asking Price: Offers Invited
Turnover: £560,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
16
 
Oct
 

Automotive supplier completes MBO | MBO/MBI

An automotive products supplier located in South Yorkshire h...

 
15
 
Oct
 

Tomlinsons Dairies falls into administration | ADMINISTRATION

Wrexham-based dairy firm Tomlinsons Dairies has announced to...

 
14
 
Oct
 

PE firm snaps up independent video game firm | BUSINESS SALE

Private equity firm NorthEdge Capital has successfully acqui...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
22
 
Aug
 

Welsh technology firm plunges into administration | ADMINISTRATION

Thought to be one of the country’s leading ICT supplie...

 
17
 
Jul
 

Preston caravan manufacturer seeks buyer following administration | ADMINISTRATION

A caravan manufacturing business in Preston is on the lookou...

 
18
 
Jun
 

Administrators called in for West Midlands contractor | ADMINISTRATION

A contractor based in Aldridge, West Midlands has collapsed ...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources