Major UK recycled paper mill Aylesford Newsprint is set to go into administration.
An announcement was made to staff this morning, and an application is expected to be made to courts later today.
Declan Slater, who is an advisor to the board of directors at Aylesford Newsprint, told the Kent Messenger newspaper: “The company announced to staff this morning that it would be making an application to the courts to go into administration and expects this to go to court later today.
“When administrators are appointed, they will provide more information.”
Local MP Tracey Crouch tweeted: “Dreadful news about Aylesford Newsprint seeking administration. I will be doing all I can to support company, 300+ employees and customers.”
Aylesford Newsprint manufactured 400,000 tonnes of recycled newsprint from 500,000 tonnes of recycled fibre every year.
This news follows the announcement by UPM in November that it has closed one of its newsprint machines at its Shotton facility in Deeside.