Paper Mill firm in administration as more jobs go at Stirling
A NORTH West paper mill business employing 300 people has been placed into administration.
Ernst & Young was appointed yesterday to Bridgewater Paper Company Limited of Ellesmere Port at the request of the company’s directors.
Bridgewater Paper recycles waste paper and has a production capacity of 220,000 tonnes a year. It sells paper produced in the UK and in Canada.
Cheshire Recycling Ltd and Abitibi-Consolidated Europe SA, subsidiaries of BPCL are not affected by the administration.
Bridgewater Paper Company is a subsidiary of Canadian paper group AbitibiBowater, which has its own financial issues, and last April sought bankruptcy protection through the US and Canandian courts.
Tom Jack, a partner at Ernst & Young in Manchester and joint administrator of
BPCL said: “We are continuing to trade the business as we explore all options, which include looking for a buyer for the business as a going concern.
“We are grateful for the support of all customers. employees and suppliers as we continue to satisfy customer demands.”
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Meanwhile a further 36 jobs have been lost at lingerie and swimwear supplier Stirling Group, administrators Deloitte said.
The Altrincham-based company shed 50 positions when it was placed into insolvency late last month. Its major customer is Marks & Spencer.
Bill Dawson, partner in the reorganisation services practice at Deloitte. “As a result of our ongoing assessment of costs, a further 36 redundancies were made at Stirling Group on January 29. The redundancies have predominantly related to the administration staff in the business.”
