Sandusky to shut down operations

Sandusky to shut down operations

Paper business Sandusky Walmsley to close down with the loss of 167 jobs

Operations at paper business Sandusky Walmsley are to be closed by its
administrators, after they failed to find a buyer for the business.

PricewaterhouseCoopers partners Michael Horrocks and Russell Cash announced
that 142 redundancies had been made, while the remaining 25 staff will be made
redundant upon completion of work in progress.

‘It is a sad day when the closure of any business is announced, especially
when it involves the loss of so many jobs,’ said Horrocks.

‘Unfortunately, despite a period in which the business has been actively
marketed, we have not received a satisfactory offer to enable the business to be
sold as a going concern. We will now be looking to achieve a sale of the
assets.’

Harsh economic conditions for the paper industry led to the company’s move
into administration back in August.

Related Articles

Carillion CFO blew whistle over 'sloppy accounting' months before collapse

Business Recovery Carillion CFO blew whistle over 'sloppy accounting' months before collapse

5m Alia Shoaib, Reporter
Toys R Us UK and Maplin enter into administration after failing to secure buyers

Business Recovery Toys R Us UK and Maplin enter into administration after failing to secure buyers

5m Alia Shoaib, Reporter
How to avoid a Carillion collapse

Business Recovery How to avoid a Carillion collapse

6m Russell-Cooke
Carillion collapse: The week so far and industry reaction

Business Recovery Carillion collapse: The week so far and industry reaction

6m Emma Smith, Managing Editor
Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

Business Recovery Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

6m Emma Smith, Managing Editor
Carillion: PwC appointed as special managers – what happens now?

Business Recovery Carillion: PwC appointed as special managers – what happens now?

6m Emma Smith, Managing Editor
Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

7m Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

7m Emma Smith, Managing Editor