Thu, 02 Apr 2015 | ADMINISTRATION
A Nottingham-based paper supply firm has gone into administration, leading to the loss of 200 jobs.
PaperlinX UK is an international paper supply firm based in Moulton Park. The company was placed in administration and ceased trading at 14 of their 19 sites across the country. Deloitte, the business advisory firm appointed joint administrators, has said that 188 redundancies at PaperlinX's head office had been made. The headquarters hold 411 members of staff.
Additionally, job losses were also seen at the Brackmills centre in Northampton, where ten of the 30 employees had lost their jobs. Deloitte said that a total of 694 redundancies would be made across the UK.
Matt Smith, joint administrator, said: “The industry has faced an increasingly challenging environment due to falling demand as digital communications have increased. We are investigating how best to maximise value in the businesses for the benefit its creditors.
He added that the firm would continue limited trading “to secure the best value available from current stock holdings and other assets.”
The joint administrators will be seeking a sale of the business and Deloitte's employment specialists will be working to help employees that had been made redundant to secure claims against pay.
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