Packaging specialist enters administration

Tue, 05 May 2015 | ADMINISTRATION

A packaging specialist has entered administration after struggling with a collapse in European exports, an increase in raw material costs and the financial difficulties of one of its largest customers.

Fife-based Tullis Russell Papermakers entered administration last week, with Blair Nimmo and Tony Friar from KPMG appointed as joint administrators.

Mr Nimmo commented: “This is a sad day for the employees of Tullis Russell Papermakers, who have worked hard against significant headwinds facing the global papermaking sector.”

The business has seen losses of £18.5 million mount up over the past five years after decline in demand continued. Further problems with margins prompted the company's bosses to seek a buyer for the then solvent company in autumn 2014, but nobody came forward.

Administrators have not opted to run the company as a going concern and so production has been shut down, with some 325 jobs lost straight away, while 149 will be kept on to see existing orders delivered.

Mr Nimmo added: “Unfortunately, with trading effectively ceasing, we have had no option but to reduce the size of the workforce. We will be working with government agencies to minimise the impact on employees.

“We would encourage any party with an interest in acquiring all, or parts, of the business to make contact with us as soon as possible.”

Get in touch with the administrators.

View the latest businesses in administration to keep an eye on the market and any distressed assets.

Share this article

Latest Businesses for Sale

Extensive Range of Catering Equipment, Furnishings & Wet Stock (Fast Sale)
UK Wide

Viewing: Wednesday 27 February 2019 between 10am and 3pm. Closing From 10am Friday 1 March 2019.

Asking Price: Offers Invited
Turnover: £500k - £1m

Tyre Services
Fakenham, Norfolk, UK Wide

Tyre specialist offering commercial and agricultural tyres. Major Tyres Ltd with Hankook performance tyres. Offers invited.

Asking Price: £299,950
Turnover: £380,000


Tyre Garage
Midhurst, West Sussex, UK Wide

Busy vehicle tyre changing business, which is in a prime trading location in Midhurst, West Sussex. The business was established by our clients in 1984. Only now is the business being offered to the market, due to our clients’ desire for a well-deser...

Asking Price: £399,995
Turnover: £336,000


View more businesses for sale

News Search

Latest News


Lakeside hotel enters administration | ADMINISTRATION

A historic but well-preserved hotel located on the banks of ...


Pharmaceutical manufacturer enters administration | ADMINISTRATION

A pharmaceutical manufacturing company based in Bristol has ...


Free guide: 10 Biggest Buyer Mistakes

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


Related News


North East furniture manufacturer has entered administration | ADMINISTRATION

Godfrey Syrett, which describes itself as a “true Brit...


Airline’s engineering arm enters administration | ADMINISTRATION

Monarch’s last surviving division has fallen into admi...


Yorkshire manufacturer completes MBO | MBO/MBI

Senior Architectural Systems, a window and door manufacturer...

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