Aylesford Newsprint Enters Administration: 233 Jobs Lost

More than 230 jobs have been lost after a Kent-based recycled newsprint paper manufacturer went into administration yesterday (24 February).

The company blamed “challenging operating conditions”. including overcapacity in the newsprint market, coupled with the rise of digital media.

Aylesford Newsprint Limited produced around 400,000 tonnes of recycled newsprint from 500,000 tonnes of recycled waste fibre annually.

It supplied newsprint to some of the main newspaper groups, employed nearly 300 people and recorded a turnover of £139m in 2013.

Allan Graham at KPMG – “Significant overcapacity in the newsprint market, coupled with rise of digital media, has created challenging operating conditions for Aylesford Newsprint. The business has been loss-making for a number of years and was unable to be maintained as a going concern”

The business employed nearly 300 staff and recorded a turnover of £139m in 2013, supplied its newsprint to some of the main newspaper groups.

Upon appointment of the administrators, the production facility was closed and 233 employees were made redundant.

The remaining 65 staff have been retained to assist the administrators in the sale of the assets and the decommissioning of the plant.

KPMG said: “Allan Graham and Rob Croxen from KPMG have been appointed as administrators to Aylesford Newsprint Limited on Tuesday 24 February 2015.”

Allan Graham at KPMG, said: “Significant overcapacity in the newsprint market, coupled with rise of digital media, has created challenging operating conditions for Aylesford Newsprint. The business has been loss-making for a number of years and was unable to be maintained as a going concern.

“We are on site and will be working closely with the Redundancy Payments Office to support the staff impacted by the administration.”


 

Send this to a friend