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Administrators confirm closure of Aylesford Newsprint

Date: Wed, 25 Feb 2015 | Author: Paul Sanderson

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KPMG has been appointed as administrators of Aylesford Newsprint and confirmed the closure of the mill.

As a result, 233 staff have been made redundant and 65 staff have been retained to assist the administrators in the sale of assets and decommissioning of the plant.

KPMG administrator Allan Graham said: “Significant overcapacity in the newsprint market, coupled with the 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.”

Aylesford Newsprint manufactured around 400,000 tonnes of recycled newsprint from 500,000 tonnes of recycled fibre waste. It had a turnover of £139 million in 2013.

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